CGS-CIMB downgrades Singapore Airlines to 'hold' due to uncertain aviation outlook
Lim Hui Jie • • 3 min read
CGS-CIMB downgrades SIA from 'buy' to 'hold', citing larger than expected losses and a slow expected recovery.
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CGS-CIMB has downgraded Singapore Airlines’ call to “hold” from its previous “add” rating with a lowered target price of $3.55, on the back of higher than expected losses and dashed hopes of a quick recovery.
Last week, SIA reported losses of $1.12 billion in Q1, its largest quarterly loss on record.
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