J.P.Morgan said in a note on Thursday that the chance for the Greater China to reopen border is rising after mainland China relaxed quarantine rules for overseas travelers and Hong Kong halted the so-called circuit breaker mechanism which banned flights routes if they carried passengers infected with Covid.
China’s civil aviation authority has been in active talks with countries including Vietnam, Thailand and Japan in a bid to resume international passenger flight and Japan’s ANA will resume direct flight between Tokyo and Beijing on July 11 after two-year suspension, the report said.
J.P.Morgan raised the stock price target of Air China to HK$7.5 from HK$6.5 and China Eastern Airlines to HK$3.4 from HK$3.3, both with Overweight rating.