- SIA’s August 2023 operation data were slightly behind our projections, with flattish pax capacity growth m-o-m and a slight dip in pax load factor. Overall, the operation data showed no improvement from July, a sign that recovery momentum is slowing down.
- - Read this at SGinvestors.io -
- Valuation is still on the high side, with SIA's share price trading at 1.35x FY24F P/B (1.5 standard deviation above its historical mean). Maintain SELL on SIA with new target price: S$6.44.
Key highlights for SIA's Aug 23 operation data:
- Singapore Airlines (SIA, SGX:C6L) released its Aug 23 operation data. See SIA's announcement dated 15 Sep 23.
- - Read this at SGinvestors.io -
Pax operation data: No improvement from July, slightly behind our projection.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Roy Chen CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-09-19
Previous report by UOB:
2023-07-31 Singapore Airlines - 1QFY24 Results In Line; Peak Quarterly Earnings Helped By Tailwinds.
Price targets by 3 other brokers at SIA Target Prices.
Listing of research reports at SIA Analyst Reports.
Relevant links:
SIA Share Price History,
SIA Announcements,
SIA Dividends & Corporate Actions,
SIA News Articles
