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SIA Engineering eyes opportunities from Air India&rsquo s major aircraft orders
&lsquo Watch this space,&rsquo says SIA Engineering CEO Chin Yau Seng, about potential opportunities of working with Air India
SIA Engineering : S59 0% is looking at tapping opportunities that arise from the transformation of Air India, which placed orders for 470 aircraft in 2023.
At the financial results briefing of SIA Engineering on Monday (May 13), Air India was mentioned several times as it appeared that the carrier owned by Indian conglomerate Tata Group could feature increasingly on the radar of the MRO (maintenance, repair and overhaul) subsidiary of Singapore Airlines (SIA) : C6L +0.74%.
Already, on Saturday, SIA Engineering was appointed to be Air India&rsquo s strategic partner to develop base maintenance facilities in Bangalore, India. SIA Engineering is the exclusive partner to help Air India with designing and conceptualising the outfit.
Projected to be ready in 2026, the Bangalore facilities will comprise both wide-body and narrow-body hangars, including associated repair shops, to support Air India&rsquo s fleet.
This comes after the Singapore MRO player bagged a deal in February to provide extensive component support coverage for Air India group&rsquo s current fleet of Airbus A320 aircraft for 12 years.
That contract was valued at US$180 million, SIA Engineering chief financial officer Ng Lay Pheng disclosed at the Monday briefing. She declined to reveal the profit margin.
SIA Engineering and Air India would share the same parentage if the merger of Air India and Vistara (the airline joint venture between SIA and Tata) secures regulatory approval.
SIA will own 25.1 per cent of the merged entity if the corporate action proceeds without hitches.
The chief executive officer of Air India, Campbell Wilson, is also no stranger to SIA Engineering executives. He was a long-time SIA executive and last helmed SIA&rsquo s budget carrier Scoot before taking over the reins at the Indian carrier.
While SIA Engineering said that it was too early to talk about investing in Air India&rsquo s Bangalore base maintenance facilities, its senior vice-president for partnership management and business development Wong Yue Jeen noted that there will be opportunities for MRO investments in component shops and engine shops to support the set-up.
&ldquo Watch this space. Let&rsquo s see how things develop,&rdquo SIA Engineering CEO Chin Yau Seng added.
SIA Engineering is not barred from providing MRO services to existing customer and Air India&rsquo s budget competitor IndiGo, which also placed orders for 500 Airbus A320 aircraft last year, and has an MRO facility near Air India&rsquo s Bangalore site.
Meanwhile, SIA Engineering might be doing fewer heavy checks at its bases in Singapore and at Clark Air Base (in the Philippines) &ndash 114 in FY2024 to March, and 126 in FY2023.
Chin pointed out that the absolute numbers do not tell the full story. This is because more Airbus A380s have been undergoing heavy checks, and these jumbo planes take up a lot more hangar time as these older aircraft and the B777s are kept flying amid production challenges faced by the plane-makers.
SIA Engineering delivered an 11.5 per cent rise in earnings year on year to S$37.8 million for the second half of FY2024 to March, driven by robust aviation maintenance, repair and overhaul demand. Revenue was up 33.7 per cent to S$580.2 million for the period, the MRO group announced last Friday.
halleluyah ( Date: 13-May-2024 11:11) Posted:
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heading 2.40...gd results n higher div...coy keep buiyng back shares....
tis babe is one way up now...
Bullish on this industry
I suppose this is a buy
Monday gap up at least 6cents.
Good guardians for SIA and SATS results on 15 and 30 May
Dyodd
Good guardians for SIA and SATS results on 15 and 30 May
Dyodd
SIA Engineering reports full year earnings of $97.1 million, up 46.2% y-o-y
SIA Engineering' s earnings for FY2024 increased by 46.2% y-o-y to $97.1 million, on the back of a 37.5% jump in revenue to $1.09 billion.
The improvement can be attributed to the recovery in demand for its services with aviation picking up following the pandemic.
For the most recent second half ended March, earnings increased by 11.5% y-o-y to $37.8 million, and revenue rose 33.7% to $580.2 million.
SIA Engineering plans to pay a final dividend of 6 cents, bringing the full-year payout to 8 cents. For the preceding FY, a total of 5.5 cents was paid.
SIA Engineering sees healthy demand for its services with global air travel edging closer to pre-pandemic levels.
" However, a tight labour market, supply chain issues and inflation remain key concerns that weigh on our near-term operating margins," the company warns.
Can't see the depth of this hole
Useless stock.
Secret_Squirrel ( Date: 15-Apr-2024 15:13) Posted:
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Today drop to lowest 2.21.
Now 2.22.
Lucky never enter at 2.24. lol
Now 2.22.
Lucky never enter at 2.24. lol
Ohyonglee ( Date: 04-Apr-2024 17:24) Posted:
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The f this bugger doing. Drifting down like nobody business.
hope tis babe will also go privatization macam isetan n best world......
coy has been daily buy back share, agak might delist one of tis day macam osim when kept buying back shares.....Long some.......
accumulation fr long....tis babe cash rich n gd results so far.....dyodd.......
tis babe expanded scoop of services fr Scoot fr 58mths fr $52m, commence start 1st april 2024 wth an option to extend coverage fr futther 24 mths....hope fr a special div tis coming reporting results.......
SIA Engineering Q3 net profit more than doubles to S$26.9 million
AIRCRAFT maintenance provider (SIAEC) posted a net profit of S$26.9 million for its third quarter ended Dec 31, 2023, more than double the S$12.8 million in the corresponding period a year earlier.
Revenue for the quarter increased 40.2 per cent to S$291.7 million from S$208.1 million a year ago, reported the mainboard-listed company on Thursday (Feb 15).
As global flight activities steadily return to pre-pandemic levels, demand for aircraft maintenance, repair and overhaul (MRO) services &ldquo remained healthy&rdquo in the quarter, noted the group in a bourse filing.
The number of flights handled by its line maintenance unit in Singapore recovered to 94 per cent of pre-pandemic levels in December 2023, compared to 75 per cent a year earlier.
But while the increase in demand was broad-based, supply-chain challenges continued to affect turnaround times and output rates at the industry level.
The group&rsquo s expenditure increased to S$295.1 million, but at a lower rate of 33.8 per cent. This was largely due to higher manpower and material costs, said SIAEC.
Basic earnings per share stood at S$0.024, up from S$0.0114 the year before.
For the nine months ended December 2023, the group&rsquo s net profit rose to S$86.2 million, up 90.3 per cent from S$45.3 million in the year-ago period. Revenue also jumped 41.3 per cent to S$805.7 million from S$570.3 million a year earlier.
SIAEC noted that a third base maintenance hub was established in December last year in the Asia-Pacific region, after a 15-year lease agreement for two hangars at Sultan Abdul Aziz Shah Airport in Subang, Malaysia was signed.
During the quarter, the group also acquired an additional 10 per cent stake in Jamco Aero Design and Engineering, making it a 55 per cent-owned subsidiary.
&ldquo Through this acquisition, we are now in a better position to further develop our cabin maintenance and retrofit services,&rdquo SIAEC said.
The group also said that the outlook for global air travel continues to be strong.
&ldquo However, headwinds from macroeconomic and geopolitical uncertainties, along with tight labour market conditions, may exacerbate inflationary pressures and supply-chain issues, and impact our near-term operating margin,&rdquo it added.
SIAEC said it would continue to prioritise cost management and productivity to remain competitive. &ldquo In line with our commitment to achieve sustainable business growth, we will continue to invest in growing our MRO capabilities and expanding our geographical presence, while nurturing our portfolio of partnerships and joint ventures.&rdquo
With less shares on the free market , it is easier to push up the share price.
But it seems nobody is doing it. Lol
But it seems nobody is doing it. Lol
halleluyah ( Date: 27-Dec-2023 15:32) Posted:
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Yday coy buy back shares again...left abt 20% mky float niah, can go delisting liao...
long some babe back....hope fr higher div to come as tis babe is doing well......also potential fr delisting......