Changi supports air cargo industry
Singapore - Changi Airport Group (CAG) has put a S$15 million cargo support package under the Changi Airport Growth Initiative (CAGi) to support the air cargo industry.
The package gives a 20% landing fee rebate at Singapore Changi Airport for all freighter flights, partnership funding support for new cargo development initiatives and 20% rental rebates for cargo tenants leasing CAG cargo facilities at the Changi Airfreight Centre.
Several other leading airlines with major freighter operations have reported sharp declines in their profitability due to losses from their cargo operations.
"Hence, this cargo partnership package aims to help Singapore's air cargo industry in the face of strong economic resistance, due to the economic situations in the US and Europe coupled with high fuel prices," James Fong, assistant vice president of the cargo and logistics development at CAG, said.
"Air cargo remains an important pillar in supporting Changi's long-term growth as a global aviation hub. Our cargo support package also signals our long-term partnership mindset for cargo development at Changi," Fong told ProcurementAsia.
He added CAG will keep monitoring the economy and the global air cargo sector over the next few months before evaluating if there is a need for further support.
Additionally, CAG will also extend a 5% across-the-board rebate on landing fee for all passenger airlines under the CAGi scheme.
Lee Seow Hiang, CEO of CAG, said the company is fully committed to strengthening its relationship with its airline and cargo partners through win-win partnerships and support programmes.
The International Air Transport Association had recently reported Asia Pacific's air cargo market showed the largest decline of 4.8%.
Managing people? For HR and leadership strategy, Human Resources has it covered.
Get your marketing department up to speed with Asia's most read marketing site
- Changi Airport Group
Changi Airport Group Related Stories:
- CAG evalutes media agencies
- Unilever grows biz, Air cargo up
- CAG settles creative pitch
- Changi Airport calls dual pitch
- Changi Airport appoints digital PR shop
- Changi keeps airport up to par
- Changi’s air cargo stable, Keppel inks more
- Changi picks Wild, Universal hires VP
- Demand decline strikes air cargo
- Japan and Singapore ink partnership
- Changi rakes in record retail sales
- Changi Airport promises first class experience
- Changi Airport appoints Weber Shandwick
- Changi Airport invites virtual money grab
- Changi Airport Group appoints Carat
- JCD goes big on display at Changi
- Changi, Sawadee.com appoint PR agencies
- SG sees new hub for air cargo needs
- SG & Netherlands pen MOU on e-freight
- Changi moves OOH biz from Eye to JCD