SATS posts S$43.7 million quarterly net loss

Aviation lockdown due to COVID-19 ‘severely impacted’ earnings

SATS workers restocking a plane. (PHOTO: SATS)

Use this oneSingapore aviation caterer and ground handler SATS said Monday (24 August) that strict lockdowns and travel restrictions around the world due to the COVID-19 pandemic that have decimated international air travel caused the company to post a net loss of S$43.7 million (US$31.90 million) for the company’s first quarter ended 30 June. Compared to a profit after tax and minority interests of S$54.7 million a year ago.

A SATS facility in Singapore. (PHOTO: SATS)

SATS said the drop in group expenditures was outpaced by the fall in revenue, which nearly halved from a year ago. This came as the decline in passenger and cargo movements in the first quarter “significantly impacted” the company’s performance. Revenue for the quarter fell 54 percent to S$209.4 million from $465.1 million a year ago, hit by declines from both its gateway services and food solutions segments. Aviation revenue fell 72.9 percent to S$110.6 million, but non-aviation revenue grew 73.3 percent to S$96.9 million as the group leveraged opportunities beyond aviation during the quarter.

Download the full report here.

Use this one

For Editorial Inquiries Contact:
Editor Matt Driskill at
For Advertising Inquiries Contact:
Head of Sales Kay Rolland at

AAV Media Kit
Previous articleQantas International chief leaving company
Next articleAviation News in Brief 26 August 2020


Please enter your comment!
Please enter your name here