SINGAPORE (May 18): CGS-CIMB Securities is maintaining its “add” call on Singapore Airlines (SIA) with a target price of $11.75.
The airline company yesterday announced that it has reversed out of the red with 4Q18 earnings of $181.8 million, from losses of $138.3 million in 4Q17, as FY18 earnings more than doubled from a year ago to $892.9 million.
4Q17/18 revenue rose 8.2% to $4.02 billion, from $3.71 billion a year ago, on the back of stronger passenger and cargo flown revenue, partially offset by higher expenditure.
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