Singapore Airlines' Indian Associate Losses Likely Bottomed Out

Dow Jones
2025/11/17

0540 GMT - Losses from Singapore Airlines' Indian associate have likely bottomed out, Roy Chen, analyst at UOB Kay Hian writes in a note. Air India's losses, which weighed on shareholder SIA's 2Q earnings, were dragged by temporary factors like a depreciating rupee, the reduction in operating scale due to Air India's safety checks and the monsoon season, Chen says. The year-end period is usually a strong quarter for both air carriers, Chen adds. UOB KH retained its sell rating on Singapore Airlines and lifted its target price to S$6.10 from S$6.03. "While we like SIA for its strong operation track record, [there is a] lack of near-term catalysts and uncertain turnaround timeline for Air India," Chen says. UOBKH trims its earnings forecast for FY 2026-2028 by 7%-12%. Shares are 0.8% lower at S$6.47. (kimberley.kao@wsj.com)

 

(END) Dow Jones Newswires

November 17, 2025 00:40 ET (05:40 GMT)

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