Last updated: Sunday October 04, 2020 KSA 14:54 – GMT 11:54
Publication date: Sunday October 04, 2020 KSA 14:21 – GMT 11:21
Source: Dubai – Arabia.net
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Changi Airport Group said that the impact of the Corona epidemic will not diminish, as officials who manage the best airport in the world have warned of a difficult period ahead.
The number of passengers at Singapore’s Changi Airport decreased for the first time in more than a decade, in the year ending at the end of March, as the decline in the last two months of this year diminished the gains made at the beginning, which raises the alarm about a possible larger decline.
To deal with the crisis that seems to be prolonged, the Changi Group suspended work in two lounges at Singapore airport, with the aim of saving operating expenses after flights fell to the lowest level in the airport’s history.
“The battle with Covid-19 has just begun,” the group said in its annual report. “The future looks terrifying, with no signs of improvement in the situation,” she added, according to Bloomberg.
According to the International Air Transport Association, 25 million jobs are threatened in the aviation sector and allied businesses, such as the travel and tourism sector.
“Cirium” data indicates that a third of the global fleet of 26,000 travel planes are still idle. Some of these planes have been placed in the desert, or are queued at airport runways.
Singapore Changi Airport
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Amidst the fog in May, Changi was voted the best airport for the eighth year in a row, according to the Skytrax classification.
Changi Airport opened in 2019, an airport extension of 1.5 million square feet that includes shopping stores, entertainment areas, a tropical forest, a maze, and the largest inland waterfall.
To provide liquidity, the company cut salaries by up to 30% for both managers and employees, and recommended withholding cash dividends this year. It also suspended construction work in Terminal Five for at least two years.
The company’s profits fell by 36% to $ 319 million, as a result of the decline in revenues at Tom Jobim International Airport in Rio de Janeiro, in which the group owns 51%, in addition to the collapse of international travel. Shopping and entertainment operations contributed to the revenue increase by 2.6% to S $ 3.1 billion during the period.
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