- With pax yield stabilising and still well above pre-COVID levels, we are upgrading SIA (SGX:C6L) to HOLD from SELL with a higher SIA's target price of S$7.03.
- - Read this at SGinvestors.io -
Better operating matrix on strong seasonal demand
- 3QFY26 Group revenue rose 5.5% y-o-y to a record S$5.5b, driven by strong pax traffic growth of 6.3% y-o-y to 10.9m.
- - Read this at SGinvestors.io -
- Coupled with disciplined non-fuel unit costs management, this supported a 25.9% y-o-y increase in operating profit.
- Given the stronger seasonality in 2H, we expect momentum to carry through into 4QFY26, underpinned by sustained travel demand and improved yield performance.
Cargo under pressure amid intense competition
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Liu Miao Miao Maybank Research | Eric Ong Maybank Research | https://www.maybanktrade.com.sg/ 2026-02-25
Read also Maybank's most recent report:
2026-07-29 Singapore Airlines - Higher Yields, Heavier Fuel Burden.
Previous report by Maybank:
2026-05-15 Singapore Airlines - Navigating A Volatile Operating Environment.
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
