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     FrontPage Edition: Sat 1 September 2007

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Changi Airport to be corporatised

Source: www.gov.sg

SPEECH BY MR RAYMOND LIM, MINISTER FOR TRANSPORT, AT THE OBSERVATION OF CHANGI AIRPORT TERMINAL 3 TRIAL, 30 AUGUST 2007, 4.00 PM
An Excerpt
Hitherto CAAS has been performing two distinct roles under one organisation -- one as a regulator of civil aviation matters and another as an airport operator.
After careful consideration, the government believes that it is necessary to corporatise Changi Airport and to re-structure CAASí existing regulatory and strategic functions under a new regulatory body.
There has been a paradigm shift in the airport sector. Airports are increasingly seen more as a business rather than basic transport infrastructure.
Corporatisation will enhance Changi Airportís ability to compete in this changed landscape. In being more nimble the new entity will further strengthen Changiís position as a premier air hub.
Currently, CAAS has a dedicated subsidiary for overseas ventures but more can be done to market Changiís expertise as a global airport operator overseas.
Just as Schiphol and Fraport Airport Groups have developed global brand names through their airport management and consultancy expertise, we will leverage on Changi Airportís reputation to develop an international presence.
Further, CAASí most valuable asset is its pool of experienced and dedicated officers. This limited pool of talent is highly valued and is sometimes pursued by the competitors of Changi.
Through this corporatisation exercise, Changi Airport will have greater flexibility to attract and retain top talent to compete with global airport operators. More career options would be made available.
While some may choose to focus on regulatory work, those who want overseas stints will have more opportunities as the new corporatised entity ventures overseas.
Corporatisation is a complex process. We will plan carefully and explore all possible options. The entire process is expected to take 18 to 24 months.
We will be appointing a consultant to assist in the corporatisation of Changi Airport and to help the regulatory body design a new regulatory regime.
We will consult widely. A series of feedback sessions has been planned for CAAS staff and stakeholders in the aviation industry throughout the process.
We firmly believe that to be successful, we need to work together with our staff and customers, to ensure the best possible operating structure for Changi ahead...

Full Text of Speech

Source: www.gov.sg Media Release 30 Aug 2007

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