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TSYHF - TravelSky Technology: Provisions And ASP Increase In The Spotlight
Travel Sky Tech Ltd
A RMB663 million provision for impairment of receivables and an increase in flight booking ASP for TravelSky in 1H 2020 were in the spotlight.
The earnings outlook for TravelSky in 2H 2020 and beyond is dependent on the recovery in aviation traffic and a potential reversal of the company's provision for impairment of receivables.
TravelSky trades at 16.1 times consensus forward FY 2021 P/E, and it offers a consensus forward FY 2021 dividend yield of 2.0%.