Despite receiving an all time high of 35 million passengers in 2006, Singapore Changi Airport faces increasing competition from several regional hubs.
According to the Executive Chairman of the Centre for Asia Pacific Aviation, Peter Harbison, “The increasing threat of Dubai is well documented, but Changi is also losing ground to traditional rivals like Hong Kong, as Mainland travel impacts increasingly and new carriers emerge in Hong Kong.”
Instead, Changi’s future growth could lie in the booming Middle East region.
In addition to a recent management contract, Changi Airport’s advisory unit has won a contract to advise Abu Dhabi Airports Co (ADAC) on the development of a Midfield Terminal Complex at Abu Dhabi International Airport, worth a whopping USD 6.8 billion.
More importantly, this advisory agreement could lead to an equity deal later on, as the ADAC moves towards privatisation.
“Middle East airports are drawing interest from several foreign airport groups, including Changi's rival, Malaysia Airports, so competition for contracts will be intense,” concluded Mr Harbison.
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