Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Changi Airport Group reverses losses to achieve $33 million net profit for FY2023
The Straits Times
|June 03, 2023
Changi Airport Group's revenue doubled to 1.9 billion, compared with 900 million in the previous financial year, as the aviation industry made a recovery after the pandemic. Passenger traffic at Changi Airport rose steadily to reach 82 per cent of pre-Covid-19 levels in March.
-
Changi Airport Group (CAG) posted a net profit of $33 million for the financial year ended March 31 - reversing its $838 million loss in the previous financial year on the back of a recovering aviation industry after borders reopened.
Overall, revenue for the group doubled to $1.9 billion, compared with $900 million in the previous financial year, it announced in a media statement on Thursday.
The number of passengers that passed through Changi Airport rose steadily to reach 82 per cent of pre-Covid-19 levels in March.
For the whole of FY2023, passenger movements rose to 42.6 million - an increase of eight times compared with the previous financial year - and are at 62 per cent of pre-Covid-19 levels.
This story is from the June 03, 2023 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
How to throw a kid's birthday bash with minimal preparation
My daughter, JJ, turned nine recently. Instead of throwing her a party with a surfeit of sugary treats and garrulous friends, my wife and I opted for a more subdued celebration.
4 mins
May 25, 2026
The Straits Times
For 80 years, Japan has tied its own hands. Will it now get a 'normal' military?
Murmurs grow to amend the post-war pacifist Constitution and formalise a force that can defend the country.
7 mins
May 25, 2026
The Straits Times
Lifelong learning • Many helping hands to support persons with disabilities
We thank Mr Wesley Loh for sharing his learning journey and giving constructive suggestions (More SkillsFuture support for people with disabilities an equitable measure, May 18).
1 mins
May 25, 2026
The Straits Times
Trump says US will not ‘rush into a deal’ with Iran
President Donald Trump said on May 24 that he had told US negotiators “not to rush into a deal” with Iran, amid anticipation that an agreement to end the war in the Middle East was close.
3 mins
May 25, 2026
The Straits Times
Schools Events should end early so students have enough sleep
Poor sleep is detrimental to students’ performance in school and overall mental and physical well-being.
1 min
May 25, 2026
The Straits Times
Parental education level affects children's AI usage patterns
how they are engaging with AI, rather than simply whether they have access to the technology.
2 mins
May 25, 2026
The Straits Times
Study finds over half of 8-year-olds in S’pore have used AI; most popular tool is ChatGPT
More than half of eight-year-olds in Singapore have used artificial intelligence (AI) tools, with usage rising sharply by ages 10 and 13.
3 mins
May 25, 2026
The Straits Times
Current F1 rules 'not doable' for Verstappen
Formula One’s rules might be maddening enough to drive out one of its best racers.
2 mins
May 25, 2026
The Straits Times
SHAI REVELS IN ‘FLOPPER' CHANTS
MVP welcomes the hostility from San Antonio crowd as Thunder eye 3-1 lead
3 mins
May 25, 2026
The Straits Times
Hypersonic missile lands near Kyiv in overnight Russian attack
Four killed, 80 injured as Ukraine suffers hours-long barrage of missiles and drones
3 mins
May 25, 2026
Translate
Change font size