Singapore Changi Airport to increase landing fee rebate for cargo services

Singapore's Changi Airport Group (CAG) announced (19-Dec-2012) plans to increase rebates for landing fees at Singapore Changi Airport to 50% for all scheduled freighter services in 1H2013 at a cost of SGD4.5 million (USD3.7 million). CAG said air cargo faced downward pressure in 2012 due to falling yields and high fuel prices and cargo traffic at the airport decreased 2.7% year-on-year to 1.65 million tonnes in the first 11 months of 2012 and decreased 5.1% year-on-year to 152,000 tonnes in Nov-2012. CAG said some segments, including pharmaceuticals, live animals and perishables, have shown moderate improvements but Singapore's manufacturing sector declined for four consecutive months to Dec-2012 and the country's growth forecast for 2012 was cut to 1.5% due to a contraction in electronics manufacturing in 3Q2012. CAG CEO Lee Seow Hiang said, "Our cargo industry partners have expressed continued concern about the outlook for the sector given the ongoing uncertainty about the health of the world's major economies. Hence, CAG has decided to provide this additional support to moderate operating costs for cargo airlines at Changi Airport. This is our commitment to building strong partnerships, in good times as well as bad." [more - original PR]