Flughafen Wien AG: NuWays AG Maintains Hold Recommendation

NuWays AG issued an updated Hold recommendation for Flughafen Wien AG, setting a target price of EUR 59.00 for the next 12 months. This follows the reveal of Vienna Airport's enhanced winter flight plan, featuring more destinations and increased flight frequencies. Austrian Airlines maintains 86 destinations but boosts frequencies to key long-haul destinations, including Bangkok and New York.

Ryanair, Vienna's second-largest airline, expands its fleet from 18 to 19 and adds a new destination, totaling 56. The airline increases frequencies on over 20 routes. New entrants, like SkyExpress and AirArabia, enhance connectivity with Vienna. The expected result is a mid-single-digit supply increase this winter.

Projected demand growth is supported by an anticipated 4.2% rise in Austrian real wages this year, alongside resilient leisure travel demand. Passenger growth is forecasted at 4.1% year-over-year for the upcoming season. Despite positive trends, Flughafen Wien AG remains fairly valued, according to NuWays AG's assessment.