SINGAPORE. Singapore Airport Terminal Services (SATS) today posted a +21.5% rise in third-quarter net profit as passenger traffic picked up after the SARS outbreak.
The services arm of Singapore Airlines earned SGD$61.6 million (US$36.30 million) for the three months to 31 December 2003 against SGD$50.7 million (US$30 million) in the same period a year ago. It made SGD$50.9 million in profits for the September quarter.
The dominant aviation services provider at Singapore’s Changi Airport said it still expects profit for the whole financial year to be lower compared with the previous year due to the impact of SARS in the first quarter.
Business at SATS, whose fortunes are tied closely to its parent which accounts for more than half its revenues, had been hurt by the Severe Acute Respiratory Syndrome (SARS) outbreak in March after airlines were forced to cut flights and visitor arrivals dropped due to a slump in air travel demand.
SATS controls about 80% of Changi airport’s ground handling and catering business. Government-owned Changi International Airport Services is the other operator.
