As at Dec 31, 2023 (excluding WFS), aviation food and flight volumes reached 97% and 86% respectively, while cargo volume recovered to 99% of pre-Covid-19 levels in 3QFY2024, primarily due to increased travel demand and seasonality factor.
SATS announced that its earnings for the 3QFY2024 ended Dec 31, 2023, period has increased by 41.9% q-o-q to $31.5 million from $22.2 million, impacted positively by improvements in the performance of the group’s business units as well as strong seasonality in Cargo.
This came on the back of revenue increasing by 6.5% q-o-q to $1.37 billion from $1.28 billion, primarily due to volume improvements boosted by strong seasonal demand, particularly in cargo for Worldwide Flight Services (WFS). Revenue contribution from Food Solutions and Gateway Services also improved during the quarter.
