Hot stock: SIA hits 2-month high after swinging back into black for Q1

SHARES of Singapore Airlines (SIA) closed up 1.7 per cent or S$0.09 to S$5.45 on Friday (Jul 29), jumping to a 2-month high during trading after the national carrier swung back into the black for the first quarter of 2022 on soaring air travel demand.

In its results released Thursday night, SIA posted an operating profit of S$556 million for Q1 FY2022 ended Jun 30 — the second-highest quarterly operating profit since Q3 FY2007/08. Earnings for the period likewise reversed into a profit of S$370 million.

SIA shares reached a high of S$5.50 shortly after the market opened on Friday morning, rising 2.6 per cent or S$0.14. The counter later eased to S$5.45 as at 3.13 pm and was trading 1.7 per cent or S$0.09 higher with 9.8 million shares changing hands.