The Fifth PersonAdam Wong2020-10-10 06:38:265 things I learned from the 2020 SATS AGM SATS is a food solutions and gateway services provider, and controls about 80% of Changi Airport’s ground handling and catering business. SATS is known among local investors for paying a steady dividend over the years. However, the COVID-19 pandemic has practically grounded global aviation and presented SATS with perhaps its greatest challenge in its history. In its most recent Q1 2021 quarter, SATS reported a 55% drop in revenue and net loss of S$43.7 million. And its latest annual dividend fell 68% from 19.0 cents to 6.0 cents per share. Aviation is not expected to recover to pre-pandemic levels until 2024 and international travel remains on lockdown. Can SATS survive COVID-19 and the next four years? Here are five things I learned from the 2020 SATS annual general meeting.