- Singapore Airlines (SIA)’s Feb 24 operation data beat our expectation, with pax load and cargo load exceeding our projections by 4.3% and 6.8% respectively. The strong pax load benefitted from the boost in Chinese visitor arrivals after Singapore’s implementation of the visa-free arrangement for Chinese visitors effective from 9 Feb 24.
- - Read this at SGinvestors.io -
Key highlights for Singapore Airlines (SIA)'s Feb 24 operation data:
Upbeat pax data with stronger-than-expected load factors.
- SIA's Feb 24 pax load beat our projection by 4.3%, reaching 88.0% of pre-pandemic (Jan 20) levels mainly due to stronger-than-expected pax load factor of 86.3% (Jan 24: 85.3%), thanks to the visa-free arrangement for Chinese effective 9 Feb 24.
- - Read this at SGinvestors.io -
Better-than-expected cargo data supported by strong e-commerce demand.
- 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/ 2024-03-19
Read also UOB's most recent report:
2024-04-17 Singapore Airlines - Pax Data Slightly Better Than Expected, But Cargo Misses In Mar 24.
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