CHANGI Airport Group yesterday announced the rolling out of a wide-ranging Growth and Assistance Incentive (GAIN) programme to be implemented over the coming year.
In a press statement, the Group said with GAIN, a total of S$100 million (US$80.1 million) will be committed through various initiatives aimed at lowering costs for airlines, boosting passenger traffic and improving operational efficiency at Changi Airport.
From July 1, 2014 to June 30, 2015, all airlines operating at Changi Airport will enjoy an across-the-board reduction in operating costs, including rebates of 50 per cent on aircraft parking fees and 15 per cent on aerobridge fees.
A new package rewarding airlines for growing transfer traffic at the airport will also be introduced.
Airlines are also being encouraged to leverage the FAST@Changi initiative, which covers a range of self-service options for departing passengers. More details on FAST@Changi will be provided in due course.
Lee Seow Hiang, the Group’s CEO, said: “While we cannot iron out the volatilities of the industry cycle, we believe that GAIN will provide helpful temporary cost relief as airlines implement the necessary measures needed to adjust to the evolving market environment.”
According to Singapore’s broadsheet The Straits Times, the programme is a lifeline thrown in the wake of the Group’s year-on-year passenger traffic decline recorded in February and March this year, likely due to Malaysia Airlines’ MH370 incident and the Thai political instability, which have hit demand from its biggest markets China and Thailand.
