Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD
Research House: DMG
Company Name: SINGAPORE AIRLINES LTD
Research House: DMG
DMG & Partners Research has downgraded Singapore Airlines (SIA) (SIAL.SI), the world’s second-biggest carrier by market value, to neutral from buy and lowered its target price to $14 from $17.20.
SIA said it filled 66.9% of the space available on its planes for passengers and cargo in February, down from January and the same period a year ago.
SIA’s passenger load factor was lower partly because of the airline’s recently added capacity on flights to Manchester, Tokyo and Los Angeles, DMG said, adding that the higher fuel surcharge may drive passengers to resort to cheaper carriers.
SIA’s passenger load factor was lower partly because of the airline’s recently added capacity on flights to Manchester, Tokyo and Los Angeles, DMG said, adding that the higher fuel surcharge may drive passengers to resort to cheaper carriers.
DMG said SIA has significant exposure to Japan as it flies to the country almost on a daily basis to four routes, and demand for passenger travel may also be worsened by the unrest in the Middle East.
At 10:42 a.m., SIA shares were up 0.3% at $13.14 on a volume of 1.1 million shares.
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