HSBC: “Purchase” recommendation for the share of Aegean Airlines

HSBC issued a “purchase” recommendation with a target price of 5.95 euros (from 5.99 euros previously) for the share of Aegean Airlines, noting that the gradual recovery of demand for the travel and tourism sectors, under the partial Lifting travel restrictions cultivates strong expectations for this summer.

The company, moreover, is well placed in the market, while it also has strong liquidity which after 180 million euros from the capital increase (60 million euros) and state support (120 million euros), amounts to about 600 million euros. , at a time when cash flows have become positive and the commitment of capital expenditures amounts to 160 million euros for the next two years.