Analysts not upbeat about SIA's first-quarter results

[SINGAPORE] Singapore Airlines (SIA) is expected to turn in a muted performance when it unveils its first-quarter results today as the airline grapples with downward pressure on yields, analysts said.

While DBS Group Research analyst Paul Yong expects the carrier to be profitable, revenue is likely to remain flat, while losses at SIA Cargo are expected to continue.

For the first quarter, Mr Yong noted that passenger carriage rose 0.4 per cent year on year against a 0.8 per cent increase in capacity, nudging load factor downwards by 0.3 of a percentage point to 77.7 per cent.