AIA has upgraded profit guidance to between $100 to $130M from $50 to $100M a few months ago following the quicker than expected passenger recovery.

"For the full 2023 financial year AIA now anticipates international passenger numbers will be between 60% and 70% of pre-Covid levels (previously 59%) and domestic passenger numbers between 85% and 90% (previously 81%)."

Still seems attractive as a defensive infrastucture and property play. The property division alone is very attractive with further developments in the pipeline. I find asset plays frustrating to hold so the conversion of this land to operating profits should see the market realise the potential over time.