In November last year, GVK signed an operations and management contract with the Airports Authority of Indonesia, (Angkasa Pura Airports AP1), the Indonesian government airport operator, to manage the non-aeronautical commercial operations at Bali (Denpasar) International Airport.
The Indian conglomerate GVK is ready to invest $500m in developing a new, greenfield international airport in Indonesia, making it the country’s first built with private finance.
GVK will create a joint venture with Indonesian state-owned airport operator Angkasa Pura I later this year to develop the airport in the province of Yogyakarta on the island of Java, reports Indonesia Investments.
iShopChangi’s pivot to the non-traveller market also saw the evolution and expansion of its range of products.
Tax and duty-free items such as wines and spirits are perennial favourites among travelling shoppers. With iShopChangi now offering non-travellers these products at over 40% off regular prices all year round, this product category has been a hit among local consumers. In addition, with Covid-19 restrictions on F&B operational hours, more people have been enjoying liquor from the comfort of home. iShopChangi has since seen a seven-fold growth in alcohol sales.
It first began with the need to expand the capacity of Changi Airport’s Terminal 1 as well as its open-air carpark. This led to a strategic vision with the conception of Jewel as a gem of a destination, to augment Changi Airport’s position as a leading air hub globally and boost its appeal as a stopover destination for travellers.
Changi Airport Group (Singapore) Pte Ltd (CAG) was formed on 16 June 2009 and the corporatisation of Singapore Changi Airport (IATA: SIN, ICAO: WSSS) followed on 1 July 2009. As the company managing Changi Airport, CAG undertakes key functions focusing on airport operations and management, air hub development, commercial activities and airport emergency services. CAG also manages Seletar Airport (IATA: XSP, ICAO: WSSL) and through its subsidiary Changi Airports International, invests in and manages airports around the world.
The key performance highlights of the airport industry before the COVID-19 crisis are as follows:
Key improvements captured in the revised agreement include: