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SIA (SGX:C6L) turned in a record quarterly revenue of S$5.7b in 1QFY27, up 19.3% y-o-y (% y-o-y).
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Passenger flown revenue grew 18.6% y-o-y to S$4.6b on a 12% increase in yields to 11.2 Singapore cents per revenue passenger-kilometre (RPK), though passenger load factor (PLF) slipped 0.5 percentage points (ppt) to 87.1% as capacity expansion (+5.9%) outpaced traffic growth (+5.3%).
Record quarterly revenue eclipsed by higher fuel costs and share of losses from Air India –
- - Read this at SGinvestors.io -
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Total expenditure, however, increased 27.9% y-o-y to S$5.6b, driven by a 78.5% y-o-y jump in net fuel costs, while non fuel expenses grew 7.4% y-o-y. As a result, operating profit came in 73.8% lower y-o-y at S$106m.
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Revised fair value estimate of S$6.95 –
- Read more at SGinvestors.io.
Above is an excerpt from a report by OCBC Group Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.
Ada Lim OCBC Group Research | https://www.iocbc.com/ 2026-07-30
Previous report by OCBC:
2026-05-15 Singapore Airlines - Playing The Long Game.
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
