Operating profit during the period also fell 37.7% y-o-y to $470 million, due to lower passenger and cargo yields, an increase in net fuel cost on higher volumes uplifted and an 8.1% rise in fuel prices.
Following Singapore Airlines (SGX:C6L
) ’ (SIA) 1QFY2025 ended June results, analysts at Maybank Securities and PhillipCapital have kept their respective “hold” and “reduce” calls at respective reduced target prices of $6.55 from $7.10 previously and $5.30 from $5.91 previously.
Maybank’s Eric Ong notes that the group’s net profit of $452 million missed his expectations at 23% of his full-year estimates. SIA’s net profit also fell short of consensus’ expectations at 22% of its full-year estimates.
