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            november 13, 2019

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Indiaexportnews.com

Hopes high for SIA's cargo operations in 2018

  15.01.2018    

Singapore Airline's cargo operations have been dragging down the air carrier's profit for the past five years, but things are about to change with both volume and yields on the rise, according to Singapore-based global investment banks, UOB Kay Hian.
In November, SIA's Cargo load factor increased by 3.9 percentage points year on year, the highest YoY change in five months, whilst October's and November's cargo load factors were the highest in 12 years.
According to an analysis, rising pharmaceutical exports, higher e-commerce transactions, and the strong Asia Pacific to North American rates are supporting the improving profitability, reported Singapore Business.
Most large air cargo operators such as FedEx and UPS have already guided by continued growth in 2018. The broker expects the same for SIA.
"Like the pax business, this holds scope for higher YoY and quarter over quarter profitability in 3Q 2017," said UOB Kay Hian analyst K Ajith.



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