CAAS surplus for FY16 dips 4.9% to S$62.7m

Singapore

THE Civil Aviation Authority of Singapore's (CAAS) net surplus fell for a third straight year as expenditure increased at a faster clip than income.

Net surplus for the year ended March 31, 2016, was down 4.9 per cent to S$62.7 million, according to CAAS's report for FY2016 released on Monday.

No other comprehensive income was declared.

Net surplus for FY2015 was S$65.9 million, for FY2014 S$89.9 million and for FY2013 S$108.3 million. It was S$95.9 million for FY2012.

The report also showed that the regulator has not yet tapped a S$3 billion fund set aside by the government to e…