Singapore Airlines Limited (SGX: C6L)
Singapore Airlines Limited, or SIA, is Singapore’s flagship airline. The blue-chip carrier reported a strong set of results for its fiscal 2024 first half (1H FY2024) ending 30 September 2023. Total revenue rose 8.9% year on year to S$9.2 billion with operating profit jumping nearly 26% year on year to S$1.6 billion....2023 has been a mixed year for the aviation and tourism industry.
On one hand, air travel has witnessed a surge in demand as economies reopened.
This pent-up demand resulted in “revenge spending” where people willingly opened their wallets after being cooped up for more than two years.
On the other hand, high inflation has been a headwind for consumer spending and has also increased expenses for aviation and tourism businesses.
Luckily, core inflation in Singapore appears to be trending down with the latest reading at 3.3% for October, significantly lower than the 5.5% registered in January.
We highlight four stocks within these industries that could see a better 2024.
