Changi Airport Group sees jump in full-year net profit to $431 million on post-Covid recovery

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Changi Airport Group (CAG) saw a jump in net profit to $431 million for the full year ended Mar 31, up from $33 million in the year-earlier period. Revenue rose 45 per cent to $2.7 billion, from $1.9 billion previously, in tandem with the recovery in travel demand and strong passenger traffic growth. 'The strong traffic performance in the last...

Passenger movements at Changi Airport reached 62.5 million or 91 per cent of pre-Covid levels.Changi Airport Group saw a jump in net profit to $431 million for the full year ended Mar 31, up from $33 million in the year-earlier period.

"The strong traffic performance in the last quarter was boosted by the hosting of major events in Singapore and liberalisation of visa requirements between China and Singapore," CAG said on Thursday . Passenger movements reached 62.5 million or 91 per cent of pre-Covid levels, while air traffic movements totalled 344,000, or 90 per cent of pre-pandemic heights. This is compared to passenger movements of 42.6 million and air traffic movements of 257,000 in the previous financial year.

 

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