Singapore Airlines' earnings may be hurt by a slow recovery in passengers, Nomura says, downgrading the stock to reduce from buy. The carrier's passenger load factors have been far lower than Nomura expected, citing SIA's operating data through February.
The government seems to be taking slow steps toward reopening Singapore, while SIA is planning to roll out International Air Transport Association's travel pass in May after being the first airline to test the pass.
However, Nomura raises the stock's target price to S$5.06 from S$4.60 to reflect its earnings estimates revisions. SIA shares are 0.7% lower at S$5.56.
(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 12, 2021 23:15 ET (03:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Comment(1)
wI’ll recover faster than u think
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