In today’s briefing:
- Singapore Airlines – 4Q Likely to Extend the Theme of Earnings Normalization as FY25 Comes into View
Singapore Airlines – 4Q Likely to Extend the Theme of Earnings Normalization as FY25 Comes into View
- We expect Singapore Airlines to report a disappointing 4Q24 on 15 May, as earnings normalisation continues.
- Inflationary pressure is a key theme at SIA, with it suffering one of the highest levels of inflation in the APAC region.
- Our forecasts for FY25, which suggest further earnings normalisation, are c.20% below consensus at the operating level.
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