SATS is the largest climber in Southeast Asia 500 thanks to air travel emissions, WFS acquisition

In Southeast Asia, airlines such as Vitgate, Thai Airlines, and Garuda Indonesia have deployed dual growth in revenue last year. But the most impressive performance did not come from a transport company, but rather a company that maintains its feet on the ground.

Sats in Singapore, which provides a set of services including food preparation, air freight and passenger services, doubled three times its revenues in 2024, and raised the company to No. 93, a jump from 134 places, this year. Southeast Asia 500. Sats 2024 revenue is now $ 3.8 billion. Sats was the largest climber in this year’s list, not including new arrivals.

A lot of SATS revenue growth comes after its acquisition of global aviation services (WFS), and it is a global air logistical provider. Sats bought the company for 1.3 billion euros ($ 1.5 billion at current exchange rates) in a deal announced in early 2023.

Sats for WFS now makes the company that focuses on Asia more than an international player. WFS is the world’s largest cargo company, and is a major player in Europe and the Americas.

The SATS-WFS group has more than 215 locations around the world, which covers the trade routes responsible for more than half the size of the global air cargo.

SATS history stems to the first days of commercial airline in Singapore, starting from the land section of Malayan Airlines. These airlines later were divided into Singapore Airlines systems (SIA) and Malaysian Airlines systems. SIA then established land handling as a separate company in 1972.

Now, Sats is Air Cargo and Grounding Conferning and Guidance Services at the largest international civilian airport in Singapore, Changi Airport. SATS has since expanded its mark throughout Asia, as it formed joint projects in markets such as the main mainland of China, Taiwan, Hong Kong, the Philippines and Indonesia.

In her latest finance a report For the quarter ending in March 2025, Sats reported a 13 % jump in revenue on an annual basis of up to $ 5.8 billion Singapore ($ 4.53 billion at current exchange rates), driven by growth in business volume and revenue from its expanded network.

“The sizes of our goods have been constantly outperforming the global growth standards of iATA, which indicates our ability to benefit from our expanded network to secure new contracts,” Satis said in its annual report.

Company the goal To reach $ 8 billion, Singapore ($ 6.2 billion) at the end of the fiscal year for 2029, thanks to a larger network, growth in Asia and Pacific passengers, and the role of Singapore as a aviation center.