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SATS records red ink of $22.5 million as it incurs higher costs to meet resumption of travel demand

The Edge Singapore
The Edge Singapore7/22/2022 06:23 PM GMT+08  • 1 min read
SATS records red ink of $22.5 million as it incurs higher costs to meet resumption of travel demand
SATS' upcoming innovation hub / Photo: SATS
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In line with the recovery in air travel, SATS’ revenue for its 1QFY2023 ended March has increased by 36.2% y-o-y to $375.5 million.

However, higher costs incurred to ramp up capacity has led to an operating loss of $34.3 million for the quarter, versus operating profit of $3.5 million in the year earlier quarter.

The company did not enjoy the same level of government subsidy.

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