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Octavia
Elite |
26-Jul-2013 09:40
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SIA registered 1Q14 results which was in-line with estimates, with core net profit at $103m (+33% y/y). Including exceptional, reported net profit came in at $122m (+56%), due to the result of a $336m gain via the disposal of Virgin Atlantic to Delta Air Line and a $317m impairment charges on freighters and property, plant & equipment. Revenue at $3.84b (+2% y/y) was aided by $75m recognized from settlement pertaining to changes in aircraft delivery slots, baring which Passenger revenue improved marginally, with a 2% growth in passenger carriage, but this was offset by weaker yields. Intense competition and unfavorable foreign exchange rates also depressed yields down by 2.6%. Cargo revenue was affected by lower loads (-5.3%) and yields (-5.5%) signaling overcapacity. SIA parent airline’s saw operating profit at $89m (+5%), although yield for 1Q14 dipped to 11.1c/pkm (1Q13: 11.4¢) and passenger load factor fell to 78% (1Q13: 79.5%) versus breakeven load factor at 82%, highlighting a decline in y/y operating stats on back of increased competition. SilkAir registered an operating profit of $14m (-22% y/y). While yields rose to 14.1¢/pkm (1Q13: 13.6¢), passenger load factor fell to 69.6% (1Q13: 76.4%) an inch above the breakeven load factor at 69.5%. The Cargo segment continues to be the weakest link, registering an operating loss of $40m (1Q13: -$49m), as total cargo yields declined further to 84.3¢/ltk (1Q13: 85.1¢/ltk) and load factor at 68.8% (1H13: 68.4%) below the overall breakeven load factor of 72.2%. This has resulted in SIA removing four Cargo freighter aircrafts from its service. Going forward, management maintains a cautious outlook, and guides for weaker yields ahead in all segments, which will likely be offset by higher passenger traffic from capacity expansion. It also expects weak load factors on the cargo business due to low demand. Analyst briefing is at 10 am this morning. UOB Kay Hian maintains Hold with $11.50 TP Deutsche maintains Sell with $9.40 TP Nomura neutral with $11.10 TP |
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dippyboy
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26-Jun-2013 07:18
Yells: "Plsdoyourownhomework.Personalopinion,Disclaimerapplies." |
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Price broke new record lows 9.9 now. This Haze can potentially shave a few percentage off load factor and cause a few hundred million of losses this quarter ,which is about 50c off to $9-9.50 by next week after ex dividen. If News of deadlier H7N1 virus emerges again in Aug when the birds comes back to roost and spreads it shitty virus all over the floor then SIA has a good chance of testing it decade lows of $7.5 during 2003 sars pandemic. Long term it is going hardball against LCC by booking massive plane orders in 2018-2019 which might repeats the current over supply situation in global shipping glut in airlines. Then theres this tech break thru in using blimps which is super energy efficient and might revolutionize air travels for the next 20 years just like lcd tv is to CRTS. Considering how shipping lines is completely changed from adoption of energy efficient ships and scrapping of earlier high speed fuel guzzling ships . Its possible all these conventional planes would be Teched by ultra efficient blimbs which hardly uses any energy to stay afloat and just requires propusion energy similar to a land vehicle shaving estimated 70% of the fuel cost which comprises 40% of the operating cost of airplanes. If thats the case, SIA should scrap half the planes orders and ask garment and ST/SIA engg to go big time to design these next generation crafts which is completely within the abilities of current singapore technologies knowhow. With $5b of cash, that would be ample to seed this design and make singapore a export hub in new generation crafts , securing the strategic hub status in se asia. |
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sun233
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23-Jun-2013 14:36
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Trending down......Reported on the web. |
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sun233
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18-Jun-2013 08:52
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Freaky business....more reports on MERS virus around the world , with deaths but airline stocks holding. What's up with that? Could be because of the mega sales of Boeing and Airbus on the airways. Any thought's anyone? |
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sun233
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12-Jun-2013 14:31
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More downside.............. CNN, Straits Times news article. Just more bad news and downward pressure.read in Today Paper...... Downtown east chalets to be used for quarantine purposes and refund to be given to those who booked chalets. |
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