Singapore Airlines (SIA)

Brokers Digest 908

CSE Global

Price targets:
69 cents BUY (DBS Group Research)
73 cents BUY (CGS-CIMB Research)
61 cents BUY (KGI Securities)
69 cents BUY (RHB Group Research)

The best is yet to come for CSE Global, say analysts, as the group garnered four “buy” calls across brokerages DBS Group Research, CGS-CIMB Research, KGI Securities and RHB Group Research.

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Singapore Air flying low on mixed performance, but analysts still positive

SINGAPORE (Nov 11): Although Singapore Airlines (SIA) reported mixed performances across the group in 2Q20, analysts are still remaining positive on the stock.

In its latest 2Q20 results, SIA’s earnings came in at $94.5 million, 70% higher y-o-y, mainly due to higher contributions from associates and joint ventures of $78 million only to be offset by higher finance charges of $28 million.

Revenue increased by 5.3% y-o-y to $768.5 million, mainly driven by growth in passenger-flown revenue, although the topline was dragged down by cargo-flown revenue.

SIA sees results of digital transformation as journey reaches last leg

SINGAPORE (Nov 11): Under CEO Goh Choon Phong, Singapore Airlines has embarked on — and is nearing the end of — a three-year digital transformation journey that has left “no stone unturned”. There are some promising ventures on the horizon, but as the company’s most recent results have shown, its core business is still the main revenue earner.

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SIA 2Q revenue and earnings up despite mixed performances across group

SINGAPORE (Nov 5): Singapore Airlines saw earnings of $94.5 million for 2Q20 ended Sept 30, 70% higher compared to a year ago.

SIA says this was mainly due to higher contributions from associates and joint ventures of $78 million only to be offset by higher finance charges of $28 million.

Revenue for 2Q20 rose 5.3% to $768.5 million from $700 million a year ago mainly driven by growth in passenger-flown revenue, although the topline was dragged down by cargo-flown revenue.

SIA purists may lament new partnership, Malaysians rooting for MAS to turn around

SINGAPORE (Nov 4): When Singapore Airlines announced an expanded code-sharing agreement with Malaysia Airlines (MAS) on Oct 30, some members of SIA’s KrisFlyer and PPS Club loyalty programmes must have been unhappy.

It has been 47 years since SIA and MAS separated in 1972, and the former has risen to great heights. The iconic Singapore Girl representing the airline’s excellent service has been the focal point of SIA’s differentiation.

All SIA group airlines continue to see improved passenger load factors in Sept

SINGAPORE (Oct 15): Singapore Airlines Group (SIA) reported a 1.2 percentage point increase in passenger load factor (PLF) to 84.8% on the back of improved PLF figures across all its airlines.

In a bourse filing on its September operating results, SIA said that overall airlines’ passenger carriage grew 8.7% y-o-y, outpacing capacity growth of 7.1%.

SIA kept at 'hold' with $9.50 fair value on volatile yields, Mideast politics, and Brexit risks

SINGAPORE (Sept 23): UOB KayHian is maintaining Singapore Airlines (SIA) at “hold” with an unchanged fair value of $9.50 and a suggested entry price of between $8.70 and $8.80.

The recommendation comes on the back of signs of a slowing global economy, a volatile cargo and passenger yield environment, rising Middle East geopolitical tensions and potential risk of a near-term Brexit.

In August, cargo traffic for the SIA group registered the steepest decline since March, with cargo load factor falling 6ppt y-o-y.

Briefs

SINGAPORE (Sept 23): “I don’t want you to listen to me. I want you to listen to the scientists. And then I want you to take real action.” 16-year-old climate change activist Greta Thunberg addressing the US Congress on Sept 19.

Anwar says he will be PM around 2020

Malaysian ruling party leader Anwar Ibrahim, who cut a deal to become the country’s next prime minister ahead of last year’s election, said in a Sept 18 interview with Bloomberg that he should take power around May 2020. 

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All SIA group airlines see improved passenger load factors; cargo load factor falls on lower traffic

SINGAPORE (Sept 16): Singapore Airlines Group (SIA) reported a 1.2 percentage point increase in passenger load factor (PLF) due primarily to improved PLF figures across all of its airlines. 

In an SGX filing of its August operating results on Monday, the group noted that overall airlines’ passenger carriage grew 7.1% y-o-y, outpacing capacity growth of 5.6%.

Singtel tops sector amid headwinds; StarHub leads in ROE; SIA, SBS Transit winners too

SINGAPORE (Sept 16): The transport, storage and communications sector has seen quite a shake-up in the last year. Among the telcos, M1 delisted, even as new providers entered the market. Meanwhile, in the transport segment, taxi operators are still fighting off competition from ride-hailing services, Grab and Go-Jek.

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