Update: SIA Q3 net falls 43%, may cut flights

Q3 net down 43% on hedging losses, cargo demand weakens
* sees weak demand for air transport in 2009
* says to adjust flight schedules, capacity

SINGAPORE - Singapore Airlines, the world's largest airline by market value, posted a 43 per cent drop in quarterly profit, hurt by hedging losses and slowing demand for travel and cargo amid a global economic downturn.

Singapore Air, which ranks ahead of Japan's All Nippon Airways, also warned that demand for air transport will remain weak this year as global trade slows. The city-state's flag carrier may continue to scale back flights and reduce capacity to cope with the downturn.

Financial statements

Singapore Air, 55 per cent-owned by state investor Temasek Holdings, has seen declining passenger demand as the global slowdown crimps corporate and leisure travel, forcing it to cut flights to other Asian cities.

For full article : Business Times

SIA has been through many crisis and had survived. My Target Price for this counter is 10.00 per share. I maintain that SIA 's TP at $13.00 per share. ( next six months )