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CAG earnings hit by one-off impairment charge, pandemic

Airport operator's net profit for financial year ended March 31 slides 36% y-o-y to S$435m

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While Changi Airport saw a growth of 4.2% cent in passenger traffic in the first 10 months of the financial year, the spread of Covid-19 and closing of international borders sent the industry into a tailspin.

Singapore

WEIGHED down by a one-off impairment charge and turbulence from the pandemic, airport operator Changi Airport Group (CAG) saw its net profit for the financial year ended March 31, 2020 slide 36 per cent year-on-year to S$435 million.

For the year under review, the group...

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