SIA Engineering - KGI Securities 2024-05-21: Benefitting From The Recovery Of Flight Activities

• SIA Engineering recently announced a strategic partnership with Air India to develop Air India’s BM (base maintenance) facilities in Bangalore, India. Going forward, we expect SIA Engineering to continue to benefit from a continued recovery of flight activities, driving the demand for MRO services.

Improving operating statistics reflecting ongoing recovery.

• - Read this at SGinvestors.io -
• For its base maintenance segment, the number of light checks also saw a 50% increase from pre-pandemic levels, while heavy checks remained stable at around 90.
• - Read this at SGinvestors.io -

SIA Engineering’s hangars in Singapore and Clark also currently have a strong utilisation rate of approximately 90%, underpinning strong demand for MRO services in these 2 key markets.

Re-directing capital injection.

• Read more at SGinvestors.io.

Tang Kai Jie KGI Securities Research | https://www.kgieworld.sg/ 2024-05-21

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