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Singapore Airlines

12/01/2023

As of now, SA is operating at about 75% of its 2019 capacities. With the reopening of China, the flag carrier could beat consensus on its profits this year. Increasing passenger capacity, strong travel demand in all cabin classes, elevated cargo-pricing levels and lower fuel costs should support higher earnings. Strong cash flow may also allow for the redemption of a convertible bond issued during the pandemic and possibly even acquisitions. Revenue growth should exceed the 20% mark.

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