APAC aviation sector buoyed by China, but uncertainty remains for SIA

SINGAPORE (Sept 28): UOB Kay Hian is keeping its “hold” recommendation on Singapore Airlines (SIA) with a lower target price of $10 due to ongoing structural challenges and lower revenue from the corporate travel segment.

(See also: Fall in SIA’s passenger traffic is bad news for SATS, SIA Engineering)

In a Wednesday report, analyst K Ajith highlights that layoffs and moves by companies to conserve cash could affect the corporate travel market, which is likely to hit SIA as some 30% of its pax revenue comes from corporate travel.

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