SIA

SIA: the debt crisis in Europe and the economic slowdown in the US have made the operating environment for SIA more unpredictable and difficult than the post-Lehman crisis in late 2008, said CEO Goh Choon Phong when asked about the outlook at a post-results briefing.
“Now, even as demand softens, we are not seeing the same kind of cost reductions. And we are facing a situation that could be more protracted and with serious economic consequences, but with no sight of finality. So we are looking a situation which could potentially drag on much longer.”
On Thursday, the airline reported a 49% 2QFY12 profit drop to $194m as yields continued to slip and fuel cost remained stubbornly high.

Post results, the Street has issued a slew of downgrades to ratings/ target prices.
CIMB maintains Neutral, lowers TP to $11 from $11.90.
Credit Suisse maintains Neutral, lowers TP to $11 from $12.
StanChart maintains Underperform, lowers TP to $10.80 from $12.
DBSV downgrades to Hold, slashes TP to $11.20 from $15.
Goldman Sachs rates at Neutral, cuts TP to $12.10 from $13.20.
Deutsche rates at Hold, slashes TP to $10.80 from $13.20.