NuWays AG Maintains 'HOLD' Rating for Flughafen Wien AG Amid Strong Q2 Results

NuWays AG has updated its research on Flughafen Wien AG, maintaining a 'HOLD' recommendation. This comes despite impressive Q2 passenger numbers and robust June traffic results. The updated target price is set at EUR 59.00.

Flughafen Wien AG reported a notable 8.4% year-on-year increase in June passengers, totaling 3.97 million. Vienna Airport saw a 6.5% rise to 3.02 million passengers, while Malta, a popular summer destination, increased by 14% to 0.86 million passengers.

Q2 passenger numbers grew by 8%, translating to a strong forecasted top-line growth of EUR 275 million, up 11% year-on-year. Vienna Airport recorded its highest-ever travel day on June 28th, underscoring the continued strong demand for air travel. New and existing airlines are also expanding their services at the airport.

Vienna Airport has maintained its reputation for high service quality, and Malta Airport received an award for best airport in the 5-10 million passenger category. Despite these positive indicators, NuWays AG maintains a 'HOLD' recommendation, citing a 16% upside insufficient to warrant a 'BUY' rating.