SIA sinks over 7% on sharp Q1 profit drop
Maybank, CGSI slashed target prices for carrier; DBS Group Research lifted its target price
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[SINGAPORE] Shares of Singapore Airlines (SIA) dived just minutes after market open on Tuesday (Jul 29), after the national carrier posted a weak first quarter net profit on Monday.
The counter dropped to S$6.94 as at 9.03 am - its lowest level in more than three weeks - with 2.6 million shares changing hands. It was down S$0.66 or nearly 8.7 per cent from Monday’s closing price of S$7.60.
By the close, it was down 7.37 per cent to S$7.04.
SIA on Monday posted a 58.8 per cent decline in net profit, which fell to S$186 million for Q1 FY2026 ended Jun 30, from S$452 million in the year-ago period. The decline was due to lower interest income and share of losses of associates, SIA said.
Analysts from Maybank and CGS International (CGSI) also downgraded their calls for SIA and slashed their price targets.
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