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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.
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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.
Esta historia es de la edición June 03, 2023 de The Straits Times.
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