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DAL - Singapore Airlines: Too Inconsistent For Investment
Delta Air Lines Inc.
2025-02-24 17:02:51 ET
Summary
Singapore Airlines' Q2 FY25 net profit surged to SGD 1.6 billion, primarily due to a non-cash gain from the Air India-Vistara merger.
Despite stable operating margins, Singapore Airlines faces increasing costs and declining unit revenues, making its investment appeal weak.
I am upgrading the stock from sell to hold, as it trades at a significant discount to peers, but future earnings and cash flows lack stability.
Other airline stocks like Delta Air Lines and United Airlines present more compelling investment opportunities, given their stronger operational and financial outlooks.