Thursday, March 29, 2012

Changi Airport Group commits S$15m to support air cargo sector

SINGAPORE: Changi Airport Group (CAG) has committed S$15 million under the Changi Airport Growth Initiative (CAGi) to support the air cargo sector for the new financial year beginning April 1.

In a statement, CAG says the cargo support package includes a 20 per cent landing fee rebate at Singapore Changi Airport for all freighter flights and partnership funding support for new cargo development initiatives.

The package also offers up to 20 per cent rental rebates for cargo tenants leasing CAG cargo facilities at the Changi Airfreight Centre.

These initiatives will go toward supporting the air cargo market which has been facing strong headwinds as a result of ongoing economic slowdown in the US and Europe, as well as persistently high jet fuel prices.

CAG says although airfreight movements at Changi Airport rose by 2.8 per cent to 1.87 million tonnes last year, it has only recovered to 2008 levels.

Changi Airport recorded its highest air freight movements in 2006 when 1.91 million tonnes of air cargo passed through the airport.

CAG adds that it will also extend a 5 per cent across-the-board rebate on landing fees for all passenger airlines at Changi Airport 2 in the new financial year under the CAGi scheme.

Mr Lee Seow Hiang, CAG's Chief Executive Officer said, "Changi Airport could not have achieved its leading position as a key international air hub without the support of our valued airline and cargo partners through the years. We are hence fully committed to strengthening our relationship with them through win-win partnerships and support programmes that will enable our partners and us to overcome the challenges ahead together and sustain our mutual growth for the long-term."

CAG adds that it will continue to work with airlines to drive traffic demand to their key markets through joint marketing activities targeting both trade partners as well as passengers.

View the original article here

Source From Channel News Asia

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