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Singapore Airlines Shares Unlikely to Get Much of a Lift From Earnings

0125 GMT - Singapore Airlines shares are unlikely to get a big boost from its latest results, despite a beat in core earnings, Citi Research analyst Kaseedit Choonnawat writes in a note. Choonnawat thinks investors will focus on the carrier's normalizing passenger yields and loads instead, as the industry continues to increase capacity. That will be particularly worrying if the decline in Singapore Airlines' ex-fuel costs reverses, affecting operating profit, Choonnawat adds. However, the carrier has a potential tailwind in the recent merger of its associate Vistara with Air India. If the new entity turns a profit, that would be a boost for Singapore Airlines, the analyst says. Citi maintains a neutral call on the stock with a target price of S$6.63. Shares are 0.3% lower at S$6.71.
Singapore Airlines Shares Unlikely to Get Much of a Lift From Earnings

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