Singapore Airlines - DBS Research 2022-11-08: Defying Recessionary Fears

• Singapore Airlines (SIA)'s 2QFY23 net income of S$556.5m (+50.2% q-o-q, vs net loss of S$427.6m in 2QFY22) surpassed expectations. 1HFY23 net income amounted to S$926.9m, accounting for 60%/79% of DBS/consensus’ full-year estimate respectively. Operating profit of S$678.0 represents a new quarterly high for the group. See SIA's announcement dated 04 Nov 2022.
• - Read this at SGinvestors.io -
• Overall operating metrics were robust, with passenger capacity reaching ~67% of pre-pandemic levels during the quarter, passenger load factors topping previous records (86.5% during the quarter), and passenger yields strengthening slightly on a sequential basis.
• - Read this at SGinvestors.io -

SIA – Outlook and investment recommendation

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-05-19 Singapore Airlines - Caught In Crosswinds.

Previous report by DBS:
2025-02-24 Singapore Airlines - Soft Landing.

Price targets by 4 other brokers at SIA Target Prices.

Listing of research reports at SIA Analyst Reports.

Relevant links:
SIA Share Price History,
SIA Announcements,
SIA Dividend Payout Dates & Corporate Actions,
SIA News