Creating World Class Airports Worldwide

Airport Investors . Airport Managers . Airport Planners

Having It All
For over a quarter of a century, Singapores Changi Airport is the undisputed leader among airports globally. Since its inception in 1981, it has won over 300 international awards, including the Award for Best Airport-Asia for 23 consecutive years. At the same time, its strong cash flow enables it to finance the completion of the USD1.2 billion Terminal 3 in January 2008 without any borrowings. Changi shows unequivocally that an airport providing a first rate passenger experience can also be among the most profitable. Yet the factors which drive Changi are uncompromisingly transparent. It is a marriage of expertise and experience. Both are injected into every investment and airport management operation undertaken by Changi Airports International (CAI) throughout the world. CAI is the investment arm and the wholly-owned subsidiary of Changi Airport Group. NB: Changi Airport Group is the operator and manager of Singapore Changi Airport.

Airport Investors Airport Managers Airport Planners

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Airports As An Asset Class

Airports are a unique class of assets. They enjoy an appreciable degree of cash flow certainty while at the same time offers prospects for growth. However, they are also very complex assets. The success of any transaction frequently depends on how local anxieties with respect to these assets are sensitively addressed. The investment philosophy espoused by CAI is one which recognizes these assets for what they are: a vital part of a countrys transport infrastructure on which its economy, trade and business depend. The analysis of each investment and the choice of value creation strategy are predicated on an intimate knowledge of the processes which underpin the growth of the asset. We determine the route development potential, the untapped efficiencies and the positioning of the asset. The larger part of the companys portfolio centres on airport assets in emerging economies. These assets are targeted for their growth and value enhancement over a medium term horizon. The portfolio is balanced with a component consisting of assets in the more mature airport markets. We draw from the experience of an organization which has managed more than USD3 billion of capital expenditure at Changi Airport itself through the years as well as its separate investment activities in respect of a range of airports and airport related assets. These cover Europe, Latin America and Asia.

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Signature Of World Class Airport Management

The Changi passenger experience is unique among airports. The terminal buildings are characterized by an opulence of space and light. Amidst the seemingly unhurried spacious interiors graced with lush greenery, facilities are primed and scrupulously maintained. By putting everything in the right place, the passenger will have no anxiety over the location of departure gates and directions. The passenger has time to shop, dine and soak in the environment. At the same time, airlines know that normal wide bodied aircraft will be turned around within 45 minutes while the A380 will take a few minutes more. There is the assurance that the baggage handling system and the terminal building automated systems have been stress tested and regularly maintained. Not surprisingly, Changi registers the lowest disruptions from delays and system downtimes. It makes possible for minimum connection time of less than 60 minutes.

Airport Investors Airport Managers Airport Planners

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This is Changis signature as a leading airport manager. This standard of airport operation is driven by a system of processes and planning which has been honed into Changi for more than a quarter century. It is an organization ethos which invites everyone in the value chain to buy into the delivery of these standards, without exception. What is more important for the airports that CAI had served was that these expertise, experience and ethos can be migrated with the right commitment on the part of everyone. Our airports worldwide have, like Changi, earned some of the most outstanding accolades in the industry including Best Airport in the Middle East and Africa and Best South American Airport. We have enabled one airport to raise its Airports Council International ratings from band 3 to band 4 within 15 months.

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A Master Class Of Airport Master Planning

The development of Changi is a case study of what airport master plans should be. The master plan for Changi was conceived more than three decades ago, yet it charts a disciplined development strategy which remains strikingly in tune with the demands of the airport and the challenges of the industry. At the same time, it allows for the kind of flexibility and expandability which distinguishes the physical development of Changi from airports elsewhere. Because the master plan has taken in fully the airports development needs as it expands, nothing has to be demolished in the airports development down the years. The only work done relates to the upgrading of internal spaces, finishes and services. These works were undertaken without disrupting the operation of these terminal buildings. In January 2008, Changi Airport commissioned the latest terminal building, Terminal 3. The systems integration and physical interface of the new terminal with the existing terminals were truly seamless despite the new generation of design and technology brought into this project. Changi Airport Planners and Engineers, a subsidiary of CAI has one of the most experienced airport planning and development teams in the world. The international airport planning team is made up of air transport specialists, engineers, economists, architects, planners and quantity surveyors. In addition it also draws on the resources of more than 200 engineers and technical officers of the Engineering Division at Changi Airport. The team has undertaken various assignments for airports in China, the Middle East, India, Russia and Singapore. Recent assignments include the master plan review and advisory work for Romes Fiumicino Airport, King Hussein International Airport in Jordan, the new Mumbai International Airport, Abu Dhabi International Airport, Sheremetyevo Terminal C in Moscow and Beijing Capital International Airport.

Airport Investors Airport Managers Airport Planners

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Civil Aviation Authority of Singapore

Group Highlights
Group Revenue 2008/09: Aeronautical: Non-aeronautical: Net Operating Income: Net Non-operating Income: Net Surplus before Tax: Total Assets: Return on Turnover: Return on Fixed Assets: Volume of Cargo Handled in 2008: No of Passengers Handled (Changi) in 2008: No of Passengers Handled (Overseas) in 2008: Passenger Handling Capacity (Changi): USD 939 mn USD 349 mn USD 590 mn USD 241 mn USD (20) mn USD 220 mn USD 4,476 mn 23.5% 6% 1.86 mn tonnes 37.7 mppa 74.3 mppa 70 mppa

Accolades: Changi Airport has won over 300 Awards, including Business Traveller (UK) Best Airport in the World award, which Changi won for the 22nd consecutive time; and the Asian Freight & Supply Chain Awards for Best Airport Asia for the 23rd consecutive time. Not only is Changi Airport the worlds 7th busiest in international passenger movement , it secured the IFALPA Starless rating since the start of operations in 1981.

NB: The above figures were converted from SGD to USD at the rate of USD 1 = SGD 1.40.

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For further information, please contact:

Changi Airports International Pte. Ltd. A subsidiary of Changi Airport Group (Singapore ) Pte Ltd 60 Airport Boulevard, #048-049, Changi Airport Terminal 2, Singapore 819643 Telephone: (65) 6541 1922 Facsimile: (65) 6545 5369 Email: info@cai.sg Website: www.cai.sg Registration No. 200404385W