Airport-Airline Stocks Surge in Response to the Nationwide Covid Vaccine Campaign’s D-Day

Airport-airline stocks rose higher in the morning session on Monday, June 7, following the launch of a nationwide Covid-19 vaccination program to mark the country’s reopening’s initial step.

 

As of 10:40 local time in Thailand, the share price of Bangkok Airways Public Company Limited (BA) was traded at ฿8.25/share, increasing ฿0.70/share or 9.27%.

The share price of Asia Aviation Public Company Limited (AAV) was traded at ฿2.76/share, increasing ฿0.06/share or 2.22%.

The share price of Airports of Thailand Public Company Limited (AOT) was traded at ฿65.00/share, increasing ฿1.00/share or 1.56%.

 

According to KGI Securities (KGI), the increase in airport and airline stocks this morning was due to speculation over the government’s nationwide D-Day vaccination distribution. It presents an opportunity to open the country to foreign tourists and international flights, beginning with the launch of the Phuket Sandbox on 1 July and then expanding to Koh Samui, where BA is expected to benefit fully.

KGI raised AOT as Top pick with a target price of 78.50 baht per share and gave a target price on AAV at 3.03 baht per share.