Still, the rebound in air freight rates is deemed as tailwind for the group and should provide some support to the company’s FY2025 earnings
SINGAPORE Airlines (SIA) is expected to deliver much lower earnings for the first quarter of FY2025 to June, based on some analysts’ forecasts.
UOB Kay Hian (UOBKH) expects the flag carrier group to generate a net profit of between S$390 million and S$550 million, a year-on-year decline of 25 per cent to 47 per cent from the record quarterly bottom line of S$734 million reported for Q1 FY2024.
The analyst, Roy Chen, made the forecast based on SIA’s April to June operating data and has factored in the expected passenger yield moderation and recent rebound in air freight rates. “Our estimates have included fuel hedge gains but excluded other possible one-off items such as tax credits.”
