- SIA’s 2QFY25 headline net profit of S$290m (-59% y-o-y, -36% q-o-q) came in below our guided range of S$360m-460m, due to slightly higher-than-expected operating costs.
- While pax travel and cargo demand are robust, SIA’s core profitability is likely to stay in an overall moderating trend in FY25-26, as pax and cargo yields remain under pressure amid an increased capacity supply.
- - Read this at SGinvestors.io -
SIA's 2Q/1HFY25 earnings missed expectations...
- Singapore Airlines (SIA)’s 2QFY25 headline net profit of S$290m (-59% y-o-y, -36% q-o-q) came in below our guided range of S$360m- 460m.
- Excluding non-core items such as gains/losses from fuel hedge, disposals and/or forex translation, 1HFY25 core net profit fell 41% y-o-y to S$669m by our estimate, forming 38% of our full-year forecast. This is deemed a miss, even though 2H could be seasonally stronger.
- - Read this at SGinvestors.io -
…due mainly to slightly higher-than-expected operating costs.
- Read more at SGinvestors.io.
