One year into the outbreak of Covid-19, Singapore Airlines still has “little to cheer”, with the carrier likely to remain in the red in its quarterly results, says UOB Kay Hian analyst K Ajith.

With leisure travel still off the cards, SIA’s latest operating statistics means the carrier faces an expected core loss of approximately $470 million in 3QFY2021, says Ajith in a Jan 14 note. 

Ajith is maintaining “sell” on Singapore’s flag carrier, with a target price of $3.80. SIA’s share price formerly reached a 52-week high of $6.38.

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