Power bill cuts to save Changi tenants $6m

23-Sep-2003

The Civil Aviation Authority of Singapore is to provide an extra $6m relief for Changi airport concessionaires by reducing electricity rates by more than 20%

The Civil Aviation Authority of Singapore is to provide an extra $6m relief for Changi airport concessionaires by reducing electricity rates by more than 20%. The cut was announced as the result of a new contract for power supply to the airport.
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(2-Oct-2003) - SINGAPORE. Tenants at Singapore Changi airport will save almost S$6m ($3.4m) as a result of savings passed on by the Civil Aviation Authority of Singapore.
(3-Dec-2002) - SINGAPORE. The Civil Aviation Authority of Singapore (CAAS) has extended its 15% rent discount to its Changi airport tenants for a further three years. The relief was initially introduced on July 1 for six months to help tenants overcome the effects of a downturn in traffic that has hit the airport since September 11. In addition, the government has launched a review of Changi?s competitive strategy against what transport minister Yeo Cheow Tong called ?a backdrop of continued uncertainty in the global aviation industry and intensifying airport competition?.
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