Singapore Airlines' 3Q Earnings May Rise on Higher Capacity -- Market Talk

Dow Jones02-19

0917 GMT - Singapore Airlines may see a 19% on-year increase in fiscal 3Q net profit due to a higher capacity base and decline in jet fuel prices, DBS Group Research analysts Tabitha Foo and Jason Sum say in an email. Net profit for the quarter could have been higher, but was likely affected by sticky inflationary pressures and a decline in passenger yields, they say. Earnings will likely peak this financial year ending March, with a decline expected in FY 2025 amid limited room for capacity growth, which has mostly recovered to pre-pandemic levels, the analysts add. They maintain their hold recommendation for the stock with a target price of S$7.00. Shares last traded 0.3% lower at S$7.30.(kimberley.kao@wsj.com)

(END) Dow Jones Newswires

February 19, 2024 04:17 ET (09:17 GMT)

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