Changi Airport Group revenues reach all-time high
Singapore's Changi Airport Group (CAG) recently released its report and accounts for the financial year ending 31-Mar-2012. With revenues increasing in both the aero and non-aero segments to "all time highs," CAG, in its third year since corporatisation, achieved an astonishing EBITDA increase of over 50%. While passenger numbers at Changi grew by 11% and revenues by twice that amount, what is most impressive is CAG's ability to control costs despite the impact of higher depreciation due to additional phased capitalisation of the Terminal 1 upgrade project and depreciation on the soon-to be-closed Budget Terminal.
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