CAAS to give Changi Airport tenants another S$70m of rental rebates

The Civil Aviation Authority of Singapore (CAAS) will extend S$70 million to help airport partners tide over the economic downturn.

This is over and above the S$130 million Air Hub Development Fund announced earlier. The CAAS had, in December last year, announced an extension on this fund till end-2009.

The money will go towards rental rebates and a Promotions Development Fund for retail, food and beverage (F&B) as well as services concessionaires at Changi Airport.

The moves follow recent complaints of poor business by the Airport’s Terminal 3 retail and F&B tenants.

To help boost their business, CAAS said there will be year-long shopping promotions and vouchers for passengers passing through the airport.

Source : Channel NewsAsia – 13 Feb 2009

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