Moneycontrol PRO
UPCOMING EVENT:Attend Traders Carnival Live. 3 days 12 sessions at Rs.1199/-, exclusive for Moneycontrol Pro subscribers. Prices Increasing Soon. Register now!
you are here: HomeNewsTrendsTravel

Singapore Changi, world's best airport, warns of grim recovery for travel, aviation

Changi Airport Group has already shut down two terminals and cut salaries by as much as 30 percent in order to serve operating costs. It said the industry's recovery would hinge on border controls and a medical treatment for the virus.

October 03, 2020 / 06:06 PM IST
Representative image

Representative image

The operators of the world's best travel hub for the eighth year in a row, Singapore Changi Airport, said that travel curbs and restrictions would continue to be a "daunting" challenge for the international travel industry to recover from.

Changi Airport Group has already shut down two terminals and cut salaries by as much as 30 percent in order to serve operating costs, Bloomberg reported. The Singapore airport, which saw a downturn in passenger traffic for the first time in a decade in FY20 at the beginning of a wave of coronavirus-induced flight restrictions, said the industry's recovery would hinge on border controls and a medical treatment for the virus.

“The battle with COVID-19 has only just begun,” the company said in its annual report, according to the article. “The future does appear daunting with the situation showing no signs of abatement.”

The world-class hub had opened a new 'Jewel' entertainment hub in 2019 that boasts of the world's highest indoor waterfall. It has helped it boost revenues. But the construction of a fifth terminal has been delayed by two years as it faces the least flight traffic in its history, the article said.
Moneycontrol News
first published: Oct 3, 2020 06:06 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark