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SATS braces for 60-70% plunge in 4Q profits as Covid-19 storm stalls global air travel

Uma Devi
Uma Devi4/30/2020 10:08 PM GMT+08  • 3 min read
SATS braces for 60-70% plunge in 4Q profits as Covid-19 storm stalls global air travel
SATS says it is now expecting its profits for the quarter to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.
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SINGAPORE (Apr 30): Airline gateway services and food solutions provider SATS is expecting to record a “material decline” in profit for 4QFY2019-20 ended March as the Covid-19 pandemic continues to stall air travel.

In a regulatory filing on Thursday, the group says it is now expecting its 4Q profits to plunge by approximately 60% to 70% compared to last year. This will correspondingly result in a reduction of up to 25% for the group’s full-year results.

To be sure, SATS appears to have prepared for this.

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