In today’s briefing:
- Singapore Airlines – Onset of Earnings Normalization to Heighten Focus on Efficiency
- ESG Brew with Lendlease REIT’s CEO: “I live more sustainably by taking public transport”
Singapore Airlines – Onset of Earnings Normalization to Heighten Focus on Efficiency
- We cut our SIA operating profit by 9% to S$2.6bn in FY24 and by 17% to S$1.5bn in FY25 versus consensus of S$2.1bn.
- SIA’s cost control is under-examined and we publish a deep dive on a concerning level of inflation relative to key peers, which actually escalated in 3Q24.
- Cargo broke even in peak season, and Scoot’s margins present a conundrum as it may need to be further utilization to help SIA with cost management.
ESG Brew with Lendlease REIT’s CEO: “I live more sustainably by taking public transport”
- kopi-C with Lendlease REIT’s CEO The first Singapore REIT to reach net zero emissions, Lendlease Global Commercial REIT has its next target in sight: absolute zero by 2040.
- When it comes to sustainability, Lendlease Global Commercial REIT is ahead of its peers.
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