TTR Weekly are reporting that the Ministry of Transport in Singapore has set aside SGD870 million (approx £468.8 million / US$657.6 million) as part of the OneAviation Support Package in the 2021 budget.
The Singapore government has recognised the importance of the aviation sector to their economy and hope that the package will enable companies survive as the pandemic enters its second year.
It is hoped that the package will enable Singapore preserve its position as a key regional aviation hub. Changi Airport is a vital hub for flights through the region and also serves to attract additional tourists into Singapore itself.
“Aviation is one of the hardest-hit sectors during this pandemic, if not the hardest hit, as Changi and its stakeholders have lost 97.5% of its customers. Yet, for a city-state like Singapore, the air hub is essential to connect us with the rest of the world and continues to be our lifeblood. This support will help Changi tide through the crisis while we explore ways to reopen borders safely. I will speak more about this during the Committee of Supply debate.”Ong Ye Kung, Singapore Minister for Transport via TTR Weekly
The bulk of the funding will cover operational fees, for example landing fees, aircraft parking fees, licenses and rental charges at Changi airport. There will also be support for Covid-19 testing fees.
The package is also designed to stem cuts to the workforce by providing 30% support for wages paid from April to June 2021 and 10% support for wages paid from July to September 2021.
Airlines will also receive training support through the Enhanced Training Support Package, which has been extended to December 2021 and will also be able to train pilots to fly other types of aircraft.
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