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SIAEC and SATS are UOBKH's preferred proxies to ride recovery of 'market weight' aviation sector

Felicia Tan
Felicia Tan4/27/2022 12:48 AM GMT+08  • 4 min read
SIAEC and SATS are UOBKH's preferred proxies to ride recovery of 'market weight' aviation sector
Changi Airport's Terminal 2. Photo: Bloomberg
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UOB Kay Hian analyst Roy Chen is keeping “market weight” on the Singapore aviation sector as air traffic data at Changi Airport and operating data reported by Singapore Airlines (SIA) exceeded his expectations.

“While the paces of recovery in the flight activities and the passenger capacity reactivation were broadly in line, surprise mainly came from the passenger volume,” Chen writes in his April 25 report.

In March, passenger volume for March rose 62.2% m-o-m to 1.14 million, which stood 19.2% of its pre-Covid-19 levels in January 2020.

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