Singapore Airlines - DBS Research 2026-04-28: Still Flying Ahead Amid Softer Skies; Target Price Lowered To S$6.50

• Unprecedented more than 100% spike in jet fuel within weeks creates a severe cost shock for airlines, although passenger traffic is still likely to grow modestly in 2026.
• While we lower FY27/28F operating profit estimates for SIA by 31%/21% respectively, we still view SIA as best-positioned among the APAC airlines.

Remain broadly negative on the airline sector

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• As a result, we expect steep negative earnings revisions to weigh on the sector.

SIA is advantaged relative to peers, with its strong hub positioning and exposure to disrupted long-haul flows.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2026-04-15 Singapore Airlines - Air India Losses Widen Sharply, Raising Risk Of Larger Capital Support & Pressure On Sia Dividends.

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