Changi Airport Unveils S$3 Billion Investment Plan to Enhance Passenger Experience and Future-Proof Operations

Changi Airport Group (CAG) announces a S$3 billion investment plan to enhance Changi Airport’s infrastructure and services, preparing it for the surge in air travel demand anticipated in the coming years. The six-year program will focus on upgrading critical services like baggage handling, check-in, immigration, and Skytrain connectivity. To fund these improvements and address rising operational costs, airport charges will gradually increase starting in 2025. This phased approach also aims to recover investments made during the COVID-19 pandemic.

Singapore’s Changi Airport Embraces Biometric Technology for a Seamless Travel Experience

Changi Airport in Singapore is ushering in a new era of travel convenience with its token-less clearance system, utilizing advanced biometric technology for faster and smoother immigration processes. This system, currently in trial at Terminal 3, will be expanded across all terminals, airports, and cruise centers by December 2024. With the ability to clear immigration using only biometric data, Singapore citizens, permanent residents, and long-term pass holders can bypass traditional passport checks, while foreign travelers enjoy expedited departure processes. This innovative system, part of Singapore’s New Clearance Concept, is projected to significantly reduce wait times and enhance the overall travel experience.

Changi Airport Group: Robust Growth and Recovery in FY2023/24

Changi Airport Group (CAG) reported a strong financial performance in FY2023/24, with revenue increasing by 45% to S$2,727 million. This was driven by a surge in passenger traffic, which reached 62.5 million or 91% of pre-pandemic levels. Operating expenses also increased, totaling S$2,233 million, due to the full reinstatement of services and license fees at Changi Airport. EBITDA climbed to S$1,205 million, while net profit attributable to shareholders reached S$431 million. CAG’s financial position remains robust, with a solid asset base and strong liquidity. The airport operator continues to invest in infrastructure development, including the upcoming construction of Terminal 5.

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