As Singapore contends with the ongoing Coronavirus outbreak (COVID-19), the government is allocating a portion of around SGD $5.6 billion (USD $4 billion) to help its aviation industry mitigate losses as a result of weakened travel demand.
Along with its national budget for 2020, a new“Aviation Sector Assistance Package,” will be funded with an amount of around SGD $112 million (USD $80.5 million) from the Government, the Civil Aviation Authority of Singapore (CAAS) and Changi Airport Group (CAG). It will provide funds to companies whose businesses have been affected by the outbreak for at least six months.
The package will include rebates on aircraft landing and parking charges, assistance to ground handling agents, and rental rebates for shops and cargo agents at Changi Airport.
Among the measures included will be landing credits that had operated and since suspended flights between China and Singapore will receive landing credits. Meanwhile, those still operating flights between the two countries will get rebates on landing credits.
For all other regularly scheduled passenger flights, airlines will get a full rebate on parking charges while a 10% landing charge rebate will be given to freight carriers.