In the world of investing, there will be a small group of investors who believe in buying beaten down stocks as they see value in them. COVID-19 is an unprecedented event that affected most of the industries and the aviation industry is one of them that is severely impacted by the pandemic.  According to the statistics provided by Changi Airport, Year-To-Date Changi Airport’s passengers movement is at 11.1 million, a significant decrease of 66% from 2019 June YTD of 33.23 million. In addition, the International Air Transport Association foresees that air passenger numbers won’t return to pre-covid levels till 2024.  So what exactly does this group of investors see in buying beaten down stocks in the aviation industry such as SATS or Singapore Airlines that others don’t? In this post, I will challenge myself in analysing SATS, an alternative investment to future recovery in aviation, and to understand the rationale behind buying such stocks....