Back in September 2016, SIA was trading at around 12.5 to 13 times P/E, coming off nearly 30 times from a year earlier. In contrast, SIA shares are trading at just over seven times P/E at current levels.
Flag carrier Singapore Airlines (SGX:C6L
) (SIA) recently resumed buying back its own shares on the open market after more than seven-and-a-half years. The most recent acquisition was on April 9, when it bought 17,300 shares at between $6.41 and $6.43 each. This brings the total number of shares bought under the current mandate to 887,000 shares, equivalent to 0.03% of the company.
The airline started the recent bouts of buying on March 7 when it acquired 178,100 shares at $6.44 each. This was followed by 200,000 shares at $6.43 each on March 8; 121,900 shares at between $6.35 and $6.41 each on March 11; 19,700 shares at $6.43 each on April 4; 200,000 shares at $6.38 and $6.42 each on April 5 and 150,000 shares at between $6.39 and $6.42 each on April 8. The airline last bought back shares on the open market on Sept 14, 2016, when it acquired 135,200 shares at between $10.52 and $10.57 each.
