SATS expects 60-70% profit loss in Q4

Submitted By:  Staff Reporter Case Study:  No The group said it may lose as much as $70m for Q1 2021. SATS anticipates its profits to decline 60-70% for Q4 2020 and a 25% reduction for the full-year profits for the financial year ending on 31 March, the group stated in an SGX filing. The group said that it may also lose $50m and as much as $70m for Q1 FY2021, as the pandemic continues to impact the group’s operations. Operating volumes of flights, passengers handled and meals have dropped 95% from pre-COVID levels, according to SATS. read more