Brazil operations drag down Changi Airport Group's profits

Singapore

CHANGI Airport Group's post-tax profits fell to S$657 million in FY16/17 from S$784 million in the previous fiscal year, weighed down by an impairment loss of S$110 million for its overseas airport investments.

The loss was largely due to the deterioration of Brazil's economy, which affected the performance of RIOgaleao airport, the airport operator's annual report said.