News
Changi reports return to profitability in fiscal 2023
June 5th 2023
Singapore-headquartered Changi Airport Group (CAG) reported net profit of S$33 million (US$24 million) for the 12 months to March 31 2023, compared with a net loss of S$838 million in the prior corresponding period. Read More » Revenue rose 99%, to S$1.9 billion, CAG said. “To cater to the surge in travel demand last year, we worked hard to reopen our terminals in a timely manner and carried out a fundamental and crucial rebalancing of airlines across our four terminals to optimise Changi Airport’s operations," CAG CEO, Lee Seow Jiang, said. “Leveraging the current growth momentum, we are optimistic that passenger traffic can reach pre-COVID levels by 2024." CAG chair, Tan Gee Paw, said Changi Airport would have four full operating terminals by October 2023.
