SATS profit warning prompts DBS to lower earnings forecasts, TP

SINGAPORE (May 6): Following a recent profit warning and earnings guidance by SATS, the in-flight catering service provider’s bottom line could likely be hit more severely than anticipated, according to DBS Group Research.

As such, the brokerage has now forecast SATS to record y-o-y earnings decline of 22% in FY20 ended March 31.

It has also forecast the company to record a loss of $89.7 million in FY21 due to slow recovery and low throughput at Changi Airport.

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