- Singapore Airlines (SIA) released its Dec 24 operation data on 15 Jan 25. See SIA's announcements.
Key highlights of Singapore Airlines' operational data for Dec 2024:
Pax data in line.
- - Read this at SGinvestors.io -
- Dec 24 pax load factor stood at 88.5% in Dec 24, 0.9ppt above pre-pandemic levels.
Cargo data below our expectation.
- Dec 24 cargo load stood at 92.3% of pre-pandemic levels, while cargo capacity had already reached 101.8% of pre-pandemic levels.
- Cargo load factors stood at 53.6% in Dec 24, +1.1ppt y-o-y but 5.5ppt below pre-pandemic levels.
- The weakness in SIA’s cargo load factor vs pre-pandemic levels may be explained by a change in air cargo competition landscape (all-cargo freighter fleet gained market share from pax aircraft belly-hold cargo capacity during the pandemic).
Network recovery.
- - Read this at SGinvestors.io -
SIA 3QFY25 results preview: Forecasting S$500m-600m in core earnings.
- 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/ 2025-01-16
Previous report by UOB:
2024-11-12 Singapore Airlines (SIA) - 1HFY25 Earnings Miss Expectations On Slightly Higher-than-expected Costs.
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
