SINGAPORE: Singapore Airlines Ltd (SIA), Asia’s second largest international carrier, will benefit from the decision by the city-state’s central bank to lower the local currency’s appreciation slope as a cheaper Singapore dollar will support inbound tourist arrivals, Morgan Stanley said.
About 40% of the airline’s revenue is denominated in US dollar, Australian dollar, the yen, the pound and the euro, likely helping to lift yields for the company, Morgan Stanley analysts led by Daniel Lau and Edward Xu wrote in a note.