Changi Airport Group reported earnings of S$33 million in FY2023, bounced from previous S$838 million net loss
Singapore’s Changi Airport Group (CAG) sees a financial turnaround with net earnings of $33 million for fiscal year ending March 2023, up from last year’s net loss of $838 million. This comes as passenger traffic increased to 62% of pre-pandemic levels.
However, operating expenses rose by 42% due to increased business activities and higher energy costs. Despite potential challenges, CAG aims to reach pre-COVID traffic levels by 2024 while focusing on sustainable travel and innovation.
