SIA has announced that its Q3 profits have dropped by 53%. This was attributed to higher fuel costs. Even through revenue grew, expenses have grown much faster thus hurting SIA's bottom line. The outlook for Q4 also remains bleak.
Meanwhile, SIA also confirmed during the past few days that cracks in the wing brackets have been discovered on 6 Airbus planes after inspections were carried out. The repairs are wholly covered by Airbus and not SIA. Out of the 6 Airbus planes, 4 have already been repaired and are back in service.
Unlock Exclusive Deals and Savings: Join Amazon Prime Today!
-
Amazon is celebrating Prime members with a multitude of deals during Prime
Day. The event will offer more deals than ever before, with new deals
dropping e...
5 comments:
This is a buy. The spike in fuel costs is temporary. Once fuel costs go back down, profits will go back up.
THIS IS STILL A BUY!
I have never owned SIA before. And I still don't dare to enter into it.
I was dead wrong and overly optimistic in my previous post. 2 days have passed and the market has sunk even deeper. As i write, Dow Jones is down 400 points, so i expect STI to gap down tomorrow. 2821 is the next support to watch, and a closing below that hints at yet another low to come. The market is increasingly volatile with emotions raging high, so traders who insist on trading during this period should trade smaller positions with much wider stops. A short term rebound will definitely come in this oversold condition, but this trade will not be an easy one.
Amazing that this was posted in Feb. SIA has reported quarterly loss recently. This goes to show how difficult the airlines business is.
Post a Comment