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Uncertainty looms over Singapore Airlines with mixed operating stats, US-China trade spat: OCBC

Michelle Zhu
Michelle Zhu6/22/2018 02:59 PM GMT+08  • 2 min read
Uncertainty looms over Singapore Airlines with mixed operating stats, US-China trade spat: OCBC
SINGAPORE (June 22): OCBC Investment Research is maintaining “hold” on Singapore Airlines (SIA) with unchanged forecasts and a fair value of $11.30, in light of fluid macro conditions and the group’s recent mixed bag of operating statistics.
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SINGAPORE (June 22): OCBC Investment Research is maintaining “hold” on Singapore Airlines (SIA) with unchanged forecasts and a fair value of $11.30, in light of fluid macro conditions and the group’s recent mixed bag of operating statistics.

In a Thursday report, lead analyst Eugene Chua observes healthy passenger load factor (PLF) across SilkAir, Scoot and parent airline SIA, with the group’s overall PLF for May 2018 rising 2.6 percentage points y-o-y on higher passenger traffic growth.

While he is positive on this trend, the analyst remains cautions of disappointing cargo statistics from Mar-May, with SIA Cargo having posted negative growth in cargo load factor (CLF) in May 2018 on the pace of demand falling behind capacity changes across all route regions.

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