Singapore Airlines (SIA SP, $15.98, BUY, TP $18.90) - KIM ENG

SIA maintained its strong load factor numbers into July 2010, with particular strength on the cargo side. Overall load factors came in at 70.8%, while passenger load factors remained in the low 80s at 82.4%, while cargo hovered at 64%. With this continued positive showing, we maintain BUY to our target price of S$18.90.