Singapore Airlines 2001 Annual Report Download - page 26

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Singapore Airport Terminal
Services (SATS) Group
The SATS Group, comprising SATS
Airport Services, SATS Catering, SATS
Security Services and Aero Linen and
Laundry Services, built firmly on its public
listing on the Singapore Exchange in
May 2000, adding joint ventures,
customers and capacity.
In July 2000, SATS entered into its 11th
overseas joint venture, taking a 20 per
cent stake in Evergreen Airline Services
Corporation, which provides ground
handling services at Taipei's Chiang Kai
Shek airport. As at 31 March 2001, its
stake was pared down to 19.21% after
more shares were issued to employees of
Evergreen Airline Services Corporation.
24 SIA annual report 00/01
During the year, the group added two
new customers, signing agreements
to provide ground handling services to
Evergreen International Airlines, one
of the world's largest cargo airlines,
and ground handling and inflight
catering to Air Wagon International,
an Indonesian carrier.
As the year under review ended, SATS
prepared for further growth, announcing
a $500 million medium-term note
programme, to allow the group to further
diversify funding sources as it seeks to
expand internationally and in Singapore.