Singapore Airlines (SIA) - UOB Kay Hian 2023-09-19: Aug 2023 Operation Data Slightly Behind Projections

• 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 an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-17 Singapore Airlines (SIA) - Sharp Drop In Jet Fuel Prices Lifts FY26-27 Earnings Prospects..

Previous report by UOB:
2025-01-16 SIA - Expect Decent Core Earnings In 3QFY25; But High Valuation A Concern.

Price targets by 5 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