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Civil Aviation Authority of Singapore's profits slide despite solid traffic

Analysis

The Civil Aviation Authority of Singapore (CAAS), operator of Changi International Airport and provider of ATM and other services, reported a sharp 15.2% reduction in operating profit for the 12 months ended 31-Mar-08, as operating costs rose 20.2% year-on-year, mainly related to the opening of the cavernous new Terminal 3 at the start of 2008.

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