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Singapore Airlines Annual Report 2007-08
32
SUBSIDIARIES
OPERATING REVIEW
SINGAPORE AIRPORT TERMINAL SERVICES LIMITED
SATS’ operating
profit rose 13.8% to
$174.3 million while its
net profit attributable to
equity holders improved
9.4% to $194.9 million.
In FY2007-08, revenue from the Singapore Airport Terminal
Services (SATS) Group grew 1.3% to $958 million, because
of higher business volumes.
Group expenditure declined 1.1% to $783.7 million due
to lower employee profit sharing bonus arising from the
de-linking from SIA Group’s profitability, but was partially
offset by higher staff costs, counter rentals at Terminals 2
and 3, and raw material costs.
As a result, operating profit rose 13.8% to $174.3 million
while net profit attributable to equity holders improved
9.4% to $194.9 million.
SATS continues to handle about 80% of total scheduled
flights at Singapore Changi Airport. Its operating data in
FY2007-08 shows that the number of passengers handled
rose 8.2% to 31.65 million while flights handled increased
by 1.7% to 85,950. Meals produced hit 25.72 million,
an increase of 4% over the previous financial year while
cargo throughput gained 1.7% to reach 1.57 million tonnes.
SATS secured and/or renewed many contracts with several
airline customers including All Nippon Airlines, Air India,
British Airways, Cathay Pacific Airways, Etihad Airways,
Qantas Airways, Qatar Airways and Xiamen Airlines.
Its expansion into the region also continued. In India,
SATS further strengthened its partnership with National
Aviation Company India Limited – the merged entity of Air
India and Indian Airlines – by collaborating with its partner
to secure one of the two ground handling concessions at the
new Rajiv Gandhi International Airport in Hyderabad.
In China, SATS announced that its ground handling
associate, Beijing Aviation Ground Services, had successfully
expanded into eight airports located in Tianjin, Nanchang,
Wuhan, Chongqing, Guiyang, Changchun, Hohhot and
Harbin.
SATS also expanded into Macau through its subsidiary,
Country Foods, which set up a new joint venture to provide
food materials to casino, resort and restaurant operators in
Macau.
Today, SATS' network of 40 airports across Asia commands
an aggregate revenue of about $1.7 billion.