Cargo throughput rose 11.2% YoY.
Changi Airport's cargo throughput rose 11.2% YoY, higher than the previous quarter's +7.5% average.
According to UOB Kay Hian, this could mean growth next year for SATS. The carrier is highly leveraged to cargo traffic growth.
Cargo traffic growth in North America to Asia rose 11.6%, in Asia-Europe to 14.5%, and within Asia to 16.5%.
Global air cargo volumes also continued to rise by double digits, giving a potential boost in gateway services to associates in Indonesia, Hong Kong, Taipei, Beijing, and Tianjin.
"Yields have also shown notable improvements and this should support pricing," UOB analyst K Ajith said.
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