Singapore Aviation Sector - UOB Kay Hian 2023-12-11: Visa-free Scheme With China A Key Positive, Raising Sector Outlook From 2024

• We expect Singapore Airlines (SIA, SGX:C6L)’s FY25 earnings to be lower y-o-y, driven by moderation of pax yields, while SATS (SGX:S58) and SIA Engineering (SGX:S59) should see earnings rise y-o-y on better business volume.
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• Maintain MARKET WEIGHT. Top picks: SATS and SIA Engineering.

Singapore’s air traffic recovery to date been more driven by Singaporeans travelling overseas.

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Number of foreign visitors to Singapore also recovering but return of Chinese visitors has been slow.

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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/.