Tsogolo lomwe likubwera likuwoneka 'lowala kuposa kale' kwa chimphona chamlengalenga cha ku Europe Airbus, malinga ndi ofufuza za equity at Barclays. Kuyerekeza kwa akatswiriwa kumachokera ku mbiri yakale ya opanga ndege aku Europe omwe amapereka ndalama zodalirika pazaka zisanu zikubwerazi.
"Chofunika kwambiri pamalingaliro athu azachuma pa Airbus ndi malingaliro athu kuti kukula ndi kuneneratu kwa FCF (ndalama zaulere) ndizopambana kuposa Boeing, komabe Airbus imachita malonda pamtengo wokulirapo kuposa kuchotsera kwanthawi zonse. Boeing, "Ofufuza zamlengalenga a Barclays adatero muzolemba zofufuza zomwe CNBC idawona.
Ofufuzawo adalembapo mtengo wa € 155 ($ 171) pagawo limodzi ndi "olemera kwambiri". Mitengo ya Airbus idagulidwa pamtengo wopitilira €119 pagawo lililonse pa French CAC-40 Lachiwiri m'mawa.
Mtengo wagawo wa Boeing ndi $372 ndipo wakwera pafupifupi 16 peresenti pachaka. Mitundu yosiyanasiyana ya ndege za Airbus ikuyembekezeka "kukula" Boeing pofika 2024.
Ofufuza adalongosola izi poloza ku US wopanga ndege wapansi 737 MAX ndi zovuta zomwe zimakumana nazo popanga 777X yake yatsopano kukhala ntchito zamalonda.
Zogulitsa za Airbus "zokhwima" zitha kupangitsa kuti ndalama zizikhala bwino, adatero Barclays, ndikuwonjezera kuti ndalama zaulere zitha kuwirikiza katatu kuchokera pa € 3 biliyoni chaka chatha kufika pafupifupi € 9 biliyoni mu 2024.
"Mbiri ya ndalama ku Airbus tsopano ikukhala yodziwika bwino komanso yolimba poyerekeza ndi ya Boeing," bankiyo idatero.
Zawerengera kuti makampani awiri omwe akupikisanawo akabwezeredwa ku magawo awo a ndege zamalonda, mitengo yamagawo apano ikutanthauza kuti Airbus ndi yamtengo wapatali "45% kuchotsera" kwa Boeing's.
Kuchotserako sikoyenera ndipo sikukhudza gawo la Airbus pamsika wa jet wanjira imodzi, adatero Barclays.
"Tikuyerekeza mtengo womwe ulipo wamakampani ocheperako $238 biliyoni, zomwe zikutanthauza kuti magawo 50/50 ndi ofunika 140 mayuro pagawo lililonse ku Airbus - 20 peresenti kuposa mtengo waposachedwa wa Airbus."
Idawonjezeranso ma jets otchuka a Airbus A321 okha akuyenera kupereka € 3.4 biliyoni yaulere kukampani pazaka zisanu zikubwerazi.
ZOMWE MUNGACHITE PA NKHANIYI:
- “Central to our investment thesis on Airbus is our view that the scale and predictability of its FCF (free cash flow) is superior to Boeing, yet Airbus trades at a much larger than normal discount to Boeing,” Barclays aerospace analysts said in a research note seen by CNBC.
- “We estimate the present value of the total narrow-body industry at $238 billion, which implies that a 50/50 split is worth 140 euros per share to Airbus — 20 percent above Airbus' current share price.
- It has calculated that when the two rival companies are stripped back to their commercial airplane divisions, current share prices imply Airbus is valued at a “striking” 45 percent discount to that of Boeing's.
