0920 GMT - Singapore Airlines' passenger yields may narrow further in 2H, Phillip Securities Research analyst Liu Miaomiao writes in a note. As new capacity continues to enter the market, competition is stiffening, Liu says. The average fare per passenger declined over 10% in 1H amid a more promotional environment, which will likely intensify going into 2H, Liu adds. However, given the positive demand, SIA should benefit from higher contributions from subsidiaries and associates that operate in downstream segments like repair and maintenance services, Liu adds. Phillip Securities cuts its fiscal 2025 net profit forecast by 17%. It retains a reduce recommendation on the stock and trims the target price to S$5.25 from S$5.30. Shares are 0.2% lower at S$6.28. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
November 12, 2024 04:20 ET (09:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。