Flughafen Wien AG: NuWays AG Issues 'Hold' Recommendation

NuWays AG has issued a 'Hold' recommendation for Flughafen Wien AG, maintaining a target price of EUR 61.00 over the next 12 months. This decision follows insights from the recent Vienna CESEE Airport Forum, highlighting the potential economic growth across central-eastern and south-eastern Europe (CESEE). As a strategic hub between east and west, Flughafen Wien AG stands to benefit from this anticipated regional growth.

The forum underscored Austria's appeal as a tourist destination, noting that 73% of its tourists are international. Vienna Airport, as Austria's only intercontinental airport, plays a crucial role in this influx, especially attracting long-haul travelers. Despite rising ticket prices due to sustainable aviation fuel policies and national taxes, air travel demand appears robust. This reflects a prioritized consumer spending pattern, indicating relatively inelastic demand.

Overall, Flughafen Wien AG's strong ties with CESEE regions suggest positive prospects. However, NuWays AG cautions that the current stock valuation justifies a 'Hold' stance.