Stock Name: SIA
Company Name: SINGAPORE AIRLINES LTD
Company Name: SINGAPORE AIRLINES LTD
| Research House: CIMB | Price Call: HOLD | Target Price: 10.95 |
Singapore Airlines (C6L.SG) is down 0.2% at $10.98, not reacting much to news it extended its voluntary unpaid leave offer to its pilot captains; it initially offered its first officers unpaid leave in March.
“It’s no surprise that they’re looking to reduce some capacity,” says Andrew Orchard, an analyst at CIMB. “That could be the reason why the market’s not reacting that dramatically to today’s news,” he says. “It’s most symptomatic of the fairly weak demand in the industry, rather than a specific problem to the company.”
He has a Neutral call on the stock. Orderbook quotes suggest the stock is unlikely to retest its $10.95 intraday low.
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