- 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 an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ 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 Dividend Payout Dates & Corporate Actions,
SIA News
