aviation

SIA Engineering to establish line maintenance JV in Thailand with NokScoot
SINGAPORE (April 1): SIA Engineering Company (SIA EC) is establishing a $2.74 million line maintenance joint venture (JV) company in Thailand with low-cost carrier (LCC) airline, NokScoot Airlines. The JV company is due to commence operations in Bangkok’s Don Mueang Airport (DMK) with the aim to subsequently expand to other key airports in Thailand. Under the terms of the agreement, SIA ...
China Aviation Oil poised to take off this year with compelling valuations, strong passenger traffic recovery: RHB
SINGAPORE (Mar 27): RHB Research is upgrading its call on China Aviation Oil (CAO) to “buy” from “hold”, while raising its target price on the stock by 10 cents to $1.60 to suggest 26% upside plus 3.6% yield. This comes as the research house expects CAO to benefit from signs of a strong recovery in international passenger growth in China, in addition to the anticipated capacity ...
More earnings drivers required for China Aviation Oil to be a 'buy', says RHB
SINGAPORE (Mar 1): RHB Research is remaining “neutral” on China Aviation Oil (CAO) after the group reported FY18 earnings of US$94 million ($127 million), up 10% y-o-y and coming in slightly ahead of RHB and consensus estimates on better-than-expected gross profit margin. The research house has raised its target price on the stock to $1.50 from $1.32 previously as it rolls over its blended ...
SATS, ST Engineering named UOB's top aviation picks this earnings season
SINGAPORE (Jan 31): UOB Kay Hian is maintaining “overweight” on Singapore’s aviation sector with expectations of Singapore Airlines and ST Engineering to surprise on the downside in the ongoing earnings reporting season. The research house’s top picks are SATS and ST Engineering, both of which are rated “buy” with the respective price targets of $5.60 and $4.06. In a Thursday ...
SilkAir's Singapore-Broome direct flight service to return in June 2019
SINGAPORE (Jan 22): SilkAir, the regional wing of Singapore Airlines (SIA), is introducing Phase 2 of its direct flight trial between Singapore and Broome, Western Australia, this June 2019.   Following the successful conclusion of the Phase 1 trial in May-June 2018, the second phase involves four return flights on June 13, 17, 20 and 24 this year. They will run at the same times each ...
Online travel agent Zuji loses licenses in Singapore, Hong Kong
SINGAPORE (Jan 17): Zuji, an Asian online travel booking site, is no longer operational after failing to renew licenses in Hong Kong and Singapore and an air ticketing system terminated its services. Zuji’s business permits expired Jan. 9 and the firm hasn’t applied for fresh ones, Hong Kong’s Travel Agents Registry said in an email, while Singapore Tourism Board said that Zuji’s ...
SIA group passenger load factor up 0.3ppt to 85% in Dec 2018
SINGAPORE (Jan 15): The overall passenger load factor (PLF) of airlines under Singapore Airlines (SIA) group concluded at 85% in December 2018 – up 0.3 percentage points (ppt) from 84.7% a year ago as well as outpacing capacity injection of 6.8% in terms of available seat kilometres. The higher group PLF was mainly due to higher y-o-y PLF from its flagship carrier and regional full-service ...
OCBC downgrades SATS back to 'hold' due to limited near-term upside
SINGAPORE (Jan 11): OCBC Investment Research is downgrading SATS back to “hold” while raising its fair value to $5.34 from $5.23 previously, after updating its cost of equity (COE) assumptions to factor in its latest share price rally. This is because the research house sees diminishing upside in the near-term post SATS’s recent price appreciation, considering how trade tensions and ...
Singapore and Malaysia's new old relationship
SINGAPORE (Dec 17): It is probably safe to say now that Dr Mahathir Mohamad has not changed his attitude towards Singapore. And, for as long as he is prime minister of Malaysia, bilateral relations between the two countries are likely to be rocky. Over the past few weeks, Malaysia has complained about Singapore’s plan to introduce an Instrument Landing System at Seletar Airport, on the ...
Singapore Airlines route shuffle a positive move, but cashflow worries remain: UOB
SINGAPORE (Nov 30): UOB KayHian is maintaining “market weight” on the local aviation sector, while its top “buy” picks remain SATS and ST Engineering, which have been given price targets of $5.40 and $4.06, respectively. The research house has lowered its full-year net profit estimate for ST Engineering by 3.1%, or $17 million, to $530 million from $547 million previously. This is to ...