Source: Channel NewsAsia Author: Georgina Joseph 02/04/2010
Subject Concerned: Airlines Cargo
Singapore Airport Terminal Services (SATS) said its third quarter profit rose 42 per cent on-year to S$53.4 million.
This came as revenue jumped 79 per cent to S$434 million, as SATS consolidated the operations of Singapore Food Industries which it acquired in April 2009.
SATS said the third quarter also saw more passengers and flights handled, compared to the same period last year. This was due to more flights and passengers from low-cost carriers.
Cargo throughput also went up as a result of stronger demand for air freight during the traditional festive peak.
On a quarter-on-quarter comparison, higher business volumes were seen across all operations for two consecutive quarters, marking the recovery of the aviation industry.
Looking ahead, SATS believes that with the continuing recovery in the aviation sector, it expects to see year-on-year improvements in passenger and cargo loads.