SINGAPORE: There will be more support given by the Changi Airport Group (CAG) to its cargo partners, including a one-time Special Assistance Package for cargo agents, amid a challenging outlook for the global airfreight industry, it said on Wednesday (Feb 17).
CAG said in its press release that it will be extending its incentive scheme for cargo agents leasing cargo facilities, which rewards them based on the volume of cargo handled, to 2016/2017.
Additionally, the one-time package will offer cargo agents that achieve strong growth with potential cost relief equivalent to a rebate of up to 45 per cent on their annual rent, it added.
CAG will also extend the existing 30 per cent landing fee rebate for scheduled freighter operations for another year to Mar 31, 2017. These measures for 2016/2017 will amount to about S$14 million, the company said.
Mr Lim Ching Kiat, Senior Vice President of Market Development at CAG, said: “The soft industry outlook is likely to continue in 2016, due to continued headwinds brought about by weaker economic conditions and slowing global trade.
"In light of the trying business conditions, we are committed to support our cargo partners through these difficult times. Amid the challenges, we hope that CAG’s package of support measures for our cargo partners will serve as a source of optimism.”