SATS reported its Q1 FY22 Business Updates on Thursday, 22 July. SATS is a company that I’ve been following closely, and this article summarises my takeaways from the business updates provided.
Key Operating Statistics
SATS shared a number of key operating statistics, including number of flights handled, meals served, passengers handled, cargo tonnage and total number of employees. These operating statistics include SATS and its subsidiaries, but exclude JVs and associates. In their business updates, SATS had only provided figures for 5 quarters from Q1 FY21 (Apr to June 2020) to the latest quarter Q1 FY22 (Apr to June 2021). Given that Covid-19 had already resulted in a decline in air travel from early 2020, I have added in two more prior quarter’s of SATS’ operating metrics for a more meaningful comparison. Q1 FY21 coincided with the peak of the lockdown in Singapore, while Q4 FY20 was already...