Coupled with disciplined non-fuel unit costs management, the airline waas able to post a 25.9% y-o-y increase in operating profit.
Liu Miaomiao and Eric Ong of Maybank Securities have upgraded their call for Singapore Airlines from "sell" to "hold", as they see "robust" operating profit growth, along with a stabilisation in passenger yield.
For the quarter ended Dec 2025, SIA's revenue grew by 5.5% y-o-y to $5.5 billion, with passenger load factor up by 0.3 percentage point to 87.5% as traffic growth of 3.2% outpaced capacity expansion of 2.8%. Passenger yield, meanwhile, was up by a better-than-expected 1.9% to 10.9 cents pkm.
