HK Stock Market Move | TRAVELSKY TECH(00696) fell nearly 3%, slow return of foreign airlines putting pressure on company's AIT business average selling price.

TRAVELSKY TECH (00696) fell by nearly 3%, falling to 2.94% as of the time of publication, reporting 9.56 Hong Kong dollars with a trading volume of 19.0653 million Hong Kong dollars. Bank of America released a research report stating that before TRAVELSKY TECH announced its financial performance last year, it evaluated its finances through three indicators: core aviation information technology (AIT) services, costs, and credit impairment. The bank pointed out that the slow return of foreign airlines is putting pressure on the average selling price of AIT services, and post-pandemic cost structures have increased, but credit impairment pressure seems to have passed the worst stage. Morgan Stanley previously stated that TRAVELSKY TECH's profit forecast for 2024, 2025, and 2026 have been lowered by 11.8%, 13.5%, and 10.7% respectively, mainly due to foreign airlines and higher costs to adjust to the higher system revenue growth integration service income growth lower than expected.