- Singapore Airlines (SIA) posted 2QFY24 revenue of S$4.68b, representing a growth of 4.3% y-o-y and ~4.6% q-o-q. This was driven by a 17.3% y-o-y increase in passenger flown revenue to S$3.87b, as a 28.9% increase in traffic outpaced a 26% increase in capacity during the period, uplifting group passenger load factors (PLFs) by 2 percentage points (ppt) to 88.6%.
Record 2QFY24 operating profit
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- Altogether, SIA reported a record 2QFY24 operating profit of S$799m, up 17.8% y-o-y.
1HFY24 profit up 25.9% y-o-y
- For 1HFY24, SIA’s group revenue and expenditure rose by 8.9% and 5.9% to S$9.16b and S$7.61m respectively, flowing through to a record operating profit of S$1.55b, up 25.9% y-o-y.
- 1HFY24 net income of S$1.45b constituted ~60% of our initial forecast.
- SIA has declared an interim dividend of S$0.10 per share, which is unchanged y-o-y. See SIA's dividend dates.
Cautiously optimistic outlook
Demand for air travel to remain healthy
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2023-11-08
Read also OCBC's most recent report:
2024-02-21 Singapore Airlines - Fighting Gravity.
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 Dividends & Corporate Actions,
SIA News Articles
