Changi Cargo Volume Continues To Drop
Singapore's Changi Airport, the second biggest in Asia, reported a steeper decline in cargo volumes and slower passenger traffic growth amid an uncertain global economy.
Changi Airport, a major transit point for freight routes across Asia, Australia and Europe, said cargo volume fell 4.9 percent in April from a year earlier to 148,200 tonnes. That extended the 1.8 percent drop in March.
Singapore Airlines, the world's second-largest carrier by market value, posted a SGD$48 million (USD$37.74 million) loss in the quarter ended March from its cargo operations.
Changi Airport serves 100 carriers whose flights connect Singapore to more than 220 destinations in 60 countries.
Passenger traffic rose 12.7 percent in April to 4.21 million, slower than the pace in March, said the airport.
The April data took Changi's year-to-date passenger growth to 12.9 percent so far this year, driven by passenger flows from Middle East and Asia.