Flying high: Airline stocks set to soar in 2023
Marc Kennis, December 9, 2022
We like airline stocks
Our own Stuart Roberts featured on AusBiz to put airline stocks in focus, mentioning that 2023 could be a rip-roaring year for the sector as travel ramps up and Australians continue chomping at the bit to jump on a plane and fly out for vacations and business trips.
The airline sector is recovering
A recent report from IATA shows that airlines could collectively be in profit in 2023, for the first time since 2019. 2024 is the big year, because if margins are anything like 2019, then profits could possible be five times as big.
Air New Zealand just upgraded its guidance
Air New Zealand (ASX:AIZ) has upgraded its earnings guidance this week, pointing to positive signs that the next couple of years are going to be huge travel years. Stocks have only just started to respond to the burgeoning increase in travel bookings, activity, upgraded earnings guidances and revenue. Lower oil prices that fuel planes, jets and engines now can keep this airline boom going for a while yet.
Stuart also mentions that it’s critical to watch how airline stocks, including Qantas (ASX:QAN), perform on local and international markets once they get back into full practice and capacity in the new year.
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