AAV keeps FY psx t/g ~23-24m, adding 6 aircrafts tally to 66 planes to strengthen mkt share in competitive routes, lower oil px open upside to margin, will review annual t/g aft eo-2Q.

Comment: As long as oil stays low, margin improvement.

CPN to launch 9 new pjs woth Bt16b, including a luxury single-detached house pj in Krabi where it expts to open a new shopping mall in Oct. It’s set a 5-yr capex of Bt10b, with 10% allocated to residential dvlmnt.

Comment: I was under the impression that they would stop the resi projects….it’s proven to not be their forte.

SAPPE sees 10-20% decrease in sales this yr mainly due to shrink dmd frm UK & French mkts on the back of excess inventory frm key clients, sees no material impact frm US tariff as US mkt only make up 5% of total sales.

Comment: So were they channel stuffing?