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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Singapore Airlines Limited    C6L   SG1V61937297

SINGAPORE AIRLINES LIMITED

(C6L)
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End-of-day quote. End-of-day quote Singapore Stock Exchange - 02/24
8.48 SGD   -1.05%
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Singapore Airlines : warns on virus as it posts 11% rise in Q3 profit

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02/14/2020 | 05:46am EST
FILE PHOTO: An Airbus A380 aircraft of Singapore Airlines takes off from Zurich airport

Singapore Airlines Ltd faces "significant challenges" to its business from the coronavirus outbreak will be adjusting its network and tightly managing costs, it said on Friday, as it reported an 11% rise in third-quarter net profit.

The airline, a benchmark for premium carriers in Asia, said its earnings rose S$31 million to S$315 million in the quarter to Dec. 31 due as revenue reached a record high S$4.47 billion due to a transformation plan that boosted sales.

Looking forward, Singapore Airlines said it had "drastically" reduced flights on all mainland China routes and set up a high-level internal task force to monitor the virus situation and roll out measures to minimise the risk to staff and passengers.

The airline is set for net losses for the next six months as the virus knocks demand, CIMB analyst Raymond Yap forecast last week.

"In short, we believe that the Singapore Airlines group will experience a large drop in travel demand centred on its routes to China (plus Hong Kong and Macau), but also extending to many other parts of its route network," he said in a note to clients.

Singapore has reported 58 cases of the infection, one of the highest figures outside China.

Qatar on Monday issued a warning to its citizens about travelling to the city state.

Singapore Airlines has already announced sharp cuts to flights to mainland China and Hong Kong. Broker UOB Kay Hian has forecast the carrier's passenger traffic will fall by 10% in February and March.

Cathay Pacific Airways Ltd, which is even more exposed to the Chinese market, has cut 30% of its global capacity.

(Reporting by Jamie Freed; editing by Himani Sarkar and Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
CATHAY PACIFIC AIRWAYS LIMITED -1.16% 10.26 End-of-day quote.-0.39%
SINGAPORE AIRLINES LIMITED -1.05% 8.48 End-of-day quote.-0.82%
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Financials (SGD)
Sales 2020 16 584 M
EBIT 2020 906 M
Net income 2020 545 M
Debt 2020 6 265 M
Yield 2020 3,02%
P/E ratio 2020 18,4x
P/E ratio 2021 16,0x
EV / Sales2020 0,98x
EV / Sales2021 1,20x
Capitalization 10 026 M
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Technical analysis trends SINGAPORE AIRLINES LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 9,81  SGD
Last Close Price 8,40  SGD
Spread / Highest target 36,9%
Spread / Average Target 16,8%
Spread / Lowest Target -6,79%
EPS Revisions
Managers
NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Chin Hwee Ng EVP-Human Resources & Operations
Stephen Barnes Senior Vice President-Finance
Wei Jun Wang Senior Vice President-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
SINGAPORE AIRLINES LIMITED-0.82%7 171
DELTA AIR LINES INC.-12.98%32 443
UNITED AIRLINES HOLDINGS, INC.-19.89%17 857
RYANAIR HOLDINGS PLC-12.10%15 206
AIR CHINA LIMITED2.53%14 957
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA-11.55%14 277