- SIA's share price has retraced 10.8% since 5 Aug 2024, after correcting close to 15% ex-dividend and post-1QFY25 business update.
Risk-reward turns less attractive on recent share price gains
- - Read this at SGinvestors.io -
- Consequently, operating profit and net profit moderated 37.7% and 38.5% y-o-y to S$470.2m and S$451.7m, respectively.
The challenges that SIA faces are neither new nor surprising
- - Read this at SGinvestors.io -
- Indeed, SIA's group passenger load factors (PLF) have tapered off to 85.7% in Aug 2024, down 2.5 percentage points (ppt) y-o-y. The decline was steeper for Scoot (-3.3 ppt y-o-y) than SIA (-2.1 ppt y-o-y), and widespread across all routes.
- Cargo load factors, on the other hand, gained 4.9 ppt y-o-y to 56.1% amidst lingering spillover effects from disruptions in the Red Sea and port congestions.
Potential upside from Air India merger
- 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/ 2024-09-18
Previous report by OCBC:
2024-08-01 Singapore Airlines - Dark Clouds Ahead, Though Nothing Out Of The Blue.
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
