Sats swings back into the black for Q1 but braces for cut in government relief
It posted a net profit of S$6.4m for the three months to June 30, reversing from a loss of S$43.7m previously
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Singapore
IN the early days of the Covid-19 pandemic, ground-handler and in-flight caterer Sats was the beneficiary of generous government dole-outs in the forms of wage subsidies through the Jobs Support Scheme (JSS).
One year later, chief executive Alex Hungate said he expects these government grants to be "substantially reduced" for FY2022 ending March 2022, but the company will focus on reshaping its cost base and building new capabilities to support future growth.
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