Singapore Airlines' passenger carriage predicted to edge up 4-5%

Will this growth be enough?

According to DBS, the outlook for SIA, while still fairly muted, is gradually improving.

Focusing on its flagship passenger business, which is the key driver to the Group’s profitability, that this segment should see a gradual improvement in its earnings over the next few quarters, in line with the mild recovery outlook for the global economy.

Here's more from DBS:

SIA’s passenger carriage has finally recovered to a level last achieved in Oct 2008, with an annual (12-month rolling) RPK of over 94,000m p-km.

Looking ahead, we expect passenger growth of between 4%-5% per annum for SIA.

Meanwhile, load factors for the passenger business have also been stabilising and we are projecting a load factor of 79.5% for FYE Mar ‘14 and FY15 respectively, compared to 79.3% for FY13.