Changi Airport returns to profit, records $1.3 billion total revenue

Changi Airport Group generated total revenue of $1.393 billion around double the $698 million in FY2021/22. The airport returned to profit in the FY2022-23 by focussing on driving operational transformation and keeping service levels high. Despite doubling total revenue, Changi increased total expenses by just 21%, leading to EBITDA (earnings before interest, tax, depreciation and amortization) of $555 million, compared to $172 million FY2021/22. The group returned to profitability with a net profit attributable to the shareholder of the company of $24 million compared to a loss of $620 million in the previous twelve months. In FY2022/23, the airport handled 42.6 million passengers