KUALA LUMPUR (Aug 29): AirAsia Group Bhd's weaker, below-consensus 1H doesn't faze TA Securities Holdings Bhd as it expects the carrier to recover in 2H on lower fuel costs and a seasonal surge in air-travel demand. 

Despite retaining its bullish stance, TA says AirAsia won't be spared from U.S.-China trade war fallout nor the devaluation of yuan, both of which are likely to hurt any company in tourism and hospitality. 

But on a longer-term view, TA is positive on AirAsia's profitability as it thinks the airline is likely to keep gaining market share over peers with additional capacity. 

It maintains shares at buy with an unchanged RM2.60 target.