We do not have domestic flights which will recover faster. Demand for international air travel, esp for leisure and business, will take many years to hit the peak of 2019 again. I will not be surprised if T2 and T4 are shut down for two, three years, or more.
25 June 2020 SATS result out on 9 July after trading hour
SATS Ltd. wishes to announce that it will be releasing its unaudited financial results for the fourth quarter and full year ended 31 March 2020 on Thursday, 9 July 2020 after market trading hours.
Wear mask and keep your distance when going out, valuebuddies.
Looking at SATS's 4Q 2020 results, there is a 80mil government grant into the kitty. Inclusive of the coming wage relief (gov to pay 75% of first 4.6k gross salary) for close to 1 year for the aviation sector, we are probably looking at a 100+ million dollars equivalent of "capital injection" by the government into SATS.
This is probably some good news for SATS shareholders, who don't have to foot the bill so far, like SIA shareholders had to do.
QnA for 24 Sep 2020 eAGM:
although the impact of the pandemic on our aviation services revenues has been substantial, SATS has moved swiftly to reduce costs, conserve cash and strengthen its balance sheet. We continue to support our airline customers during this difficult time, especially with our unique digitalised cargo handling services. However, we expect the recovery of aviation to be slow, therefore we are rapidly reskilling and redeploying our people to serve new market segments: providing food for fast-casual restaurant chains, ready-to-eat meals for retail distribution, and growing our pharmaceutical handling and eCommerce businesses.
https://links.sgx.com/FileOpen/SATS_47th...eID=632669
Stay home and stay safe, everyone.
SATS@386
FY Result as at 31 Mar 2021
Rev $0.9b (vs 1.9b)
Gross Loss
$10m (vs +226m)
Net Loss
$109m (vs +175m)
Div
NIL (vs 6cents)
https://links.sgx.com/FileOpen/SATS_2HFY...eID=667946
Alex Hungate, President and Chief Executive Officer of SATS Ltd.,
“While the pandemic continues to restrict travel, SATS will continue to
transform by reshaping our aviation services businesses while expanding non-travel related businesses.”
Stay home and stay safe, everyone.