aviation

Ong also stressed the importance of developing a widely available and effective vaccine to help countries open their borders.

The aviation group was experiencing “an average monthly operating cash burn of US$84 mil" but only had US$88 mil in liquidity.

With a recovering global economy, investors should be looking at companies that are expected to recover once a vaccine is out.

The agreement holds until March 31, 2022.

Industry groups have forecast that passenger traffic will not return to previous levels till 2024.

CGS-CIMB downgrades SIA from 'buy' to 'hold', citing larger than expected losses and a slow expected recovery.

DBS Group Research analyst Paul Yong has maintained his “hold” call on Singapore Airlines (SIA) with a significantly reduced target price of $3.75 from $6.60 previously.

SIA says it entered into the first quarter at a time when market conditions were “deteriorating rapidly” due to the spread of the Covid-19 pandemic.

SIA has successfully raised an additional $750 million through long term loans secured on some of its Airbus A350-900 and Boeing 787-10 aircraft, bringing its total liquidity raised during FY2020/21 to $11 billion.

Analysts from DBS Group Research and OCBC Investment Research have recommended investors to “hold” on to the stock, while analysts from PhillipCapital and CGS-CIMB feel it’s time to “sell” or “reduce” their positions.