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Sats posts S$9.9 million loss in Q2; says rights issue will not exceed S$800 million

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Tay Peck Gek
Raphael Lim

Tay Peck Gek &

Raphael Lim

Published Wed, Nov 9, 2022 · 07:49 PM
    • Excluding the effect of reliefs, SATS net loss for the three months ended Sep 30 would have been S$19.7 million, an improvement from the S$30.1 million net loss excluding reliefs in the year-ago period, the company says.
    • Excluding the effect of reliefs, SATS net loss for the three months ended Sep 30 would have been S$19.7 million, an improvement from the S$30.1 million net loss excluding reliefs in the year-ago period, the company says. PHOTO: ST FILE

    INFLIGHT caterer and ground handler Sats on Wednesday (Nov 9) reported a net loss of S$9.9 million for its second quarter, reversing a year-ago profit of S$6.8 million, as operating expenses rose and lower government grants were received.

    Excluding the effect of reliefs, net loss for the three months ended Sep 30 would have been S$19.7 million, an improvement from the S$30.1 million net loss excluding reliefs in the year-ago period, the company said in a bourse filing.

    During the second quarter, Sats revenue rose 46 per cent to S$429 million, as its food and gateway segments reported higher revenue on the back of aviation recovery and the consolidation of revenue from Asia Airfreight Terminal. 

    SATSFinancial resultsM&A

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