Yap figures that SIA may on Nov 7 report 1HFY2024 core EBIT of between $1.36 - $1.4 billion, a drop from the preceding 2HFY2023's $1.46 billion.
CGS-CIMB's Raymond Yap has maintained his "reduce" call on Singapore Airlines (SGX:C6L
) , and with a lowered target price of $5.66 from $6.78 previously.
In his Oct 17 note, Yap estimates that SIA's earnings had peaked for its 1QFY2024 ended June 30, because of higher fuel costs on one hand, and softer yields on the other.
