The world's biggest air cargo handler, SATS, reported surging revenues driven by US companies transporting machinery to rebuild energy infrastructure damaged by the Iran war. Chief executive Kerry Mok told the Financial Times that chartered flights from Houston and Dallas have increased dramatically, reaching up to 50 per week. This shift reflects a broader trend of companies switching from ocean to air freight to expedite deliveries.

SATS revenues rose 11.3 per cent in the quarter to June, with the Americas region growing 15.4 per cent. Net profits increased 6 per cent to S$75mn ($59mn), though tighter margins resulted from higher flight disruption and energy-related inflation. Originally a Singapore Airlines subsidiary spun off in 2009, SATS expanded its global footprint through the €1.3bn acquisition of Worldwide Flight Services.

Based next to Changi Airport, the company employs 57,000 people across 27 countries. Mok also highlighted growth from the global AI boom, noting tech firms are prioritizing air freight for time-critical data centre equipment. With $7tn expected in data centre investment by 2030, SATS benefits from transporting server racks and graphics processing units.

Carriers including Korean Air and Japan Airlines have also reported surging cargo revenues from AI chip shipments, positioning SATS as a key beneficiary of shifting global trade patterns.