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SIA (SGX:C6L)'s 1Q27 revenue increased 19.3% y-o-y to S$5,714mil, forming 27% of our full-year estimates and exceeding our expectations. PATMI declined S$262mil y-o-y to -S$76mil. Fuel expenditure (+78.5% y-o-y) and associate losses weighed on earnings.
- - Read this at SGinvestors.io -
The Positives
(+) Record revenue performance.
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Passenger revenue rose 18.6% to $4,582mil on 10.9mil passengers carried (+6.3% y-o-y) and a 12.0% rise in passenger yield to 11.2 cents/pkm. Cargo revenue grew 33.5% to S$708mil, with cargo load factor up 1.9 ppts to 58.8% on semiconductor and data-centre-related demand alongside a 28.1% jump in cargo yields.
- - Read this at SGinvestors.io -
(+) Strong balance sheet.
- Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
Hashim Osman Phillip Securities Research | https://www.poems.com.sg/ 2026-07-31
Previous report by Phillip:
2026-05-19 Singapore Airlines - Weighed Down By Associates.
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
