Singapore Airlines (SIA)

SIA shares drop following earnings miss and analysts' downgrades - THE EDGE SINGAPORE

Broker's Calls

SIA shares drop following earnings miss and analysts' downgrades

Revenue was up for 3QFY2024 but earnings was down q-o-q despite peak year-end holiday travelling season
Singapore Airlines posts record quarterly revenue of $5.08 bil for 3QFY2024, as North Asia air travel rebounds - THE EDGE SINGAPORE

Results

Singapore Airlines posts record quarterly revenue of $5.08 bil for 3QFY2024, as North Asia air travel rebounds

The group recorded a 4.9% y-o-y net profit of $659 mil, but operating profit decreased 19.3% y-o-y.

Broker's Calls

Citi upgrades SIA to ‘buy’ on stronger-than-expected yield outlook

The analysts have also raised their target price to $7.72 from $5.74 as they raise their earnings estimates for FY2024 to FY2026.
DBS sees limited upside for SIA as it expects earnings to peak in FY2024 - THE EDGE SINGAPORE

Broker's Calls

DBS sees limited upside for SIA as it expects earnings to peak in FY2024

The brokerage has kept its “hold” call with a higher target price of $7.

Broker's Calls

UOB Kay Hian keeps ‘hold’ call on SIA at unchanged target price following December operational update

SIA’s passenger data for December was in line although cargo data was a “slight miss”.
SIA posts passenger traffic growth of 15.8% in December operational update - THE EDGE SINGAPORE

Aviation & Engineering

SIA posts passenger traffic growth of 15.8% in December operational update

The group's passenger capacity expanded by 16.1% y-o-y in December, outpacing passenger traffic growth.
CGS-CIMB upgrades SIA to ‘add’ on expected strong results for 2HFY2024 - THE EDGE SINGAPORE

Broker's Calls

CGS-CIMB upgrades SIA to ‘add’ on expected strong results for 2HFY2024

Analyst Raymond Yap has also upped his target price to $6.91 as he sees re-rating catalysts for the airline.
Visa-free China travel to ‘turbocharge’ SIA? - THE EDGE SINGAPORE

Sector Focus

Visa-free China travel to ‘turbocharge’ SIA?

UOB Kay Hian's Chen expects SIA’s earnings in FY2026 to further moderate to $1.09 billion, just above the pre-pandemic levels.

Broker's Calls

UOB Kay Hian keeps ‘market weight’ on aviation sector, cites Chinese visitor arrival driven-growth

Although the Singapore-China visa-free arrangement could spur the return of Chinese tourists to Singapore it will take time.

Aviation & Engineering

Singapore Airlines expands Philippine reach with new regional partner

The agreement is due to start this quarter subject to regulatory approvals.
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