Singapore's Changi Airport will be corporatised by July 2009. It will be split into two entities - a regulatory arm and a new airport company.
The regulatory arm will oversee functions such as air traffic services, air services negotiations, safety, customer service and economic regulations.
The airport company will undertake the operational functions of managing Changi Airport, running its emergency services as well as operations and investments in foreign airports. It will be a wholly owned subsidiary of Temasek Holdings.
Mr Liew Mun Leong, chairman of the Civil Aviation Authority of Singapore, will helm the new airport company.
The Transport Ministry said on Tuesday that corporatisation will make Changi Airport more innovative and nimble.
The corporatised entity will have greater wage flexibility to attract and retain talent, which would make Singapore a more competitive air hub.
'...It will be a wholly owned subsidiary of Temasek Holdings.'
Oh look! Another company just got "0wned"! Are we "PWNed" much?
Why do I get the feeling that Temasek = PAP? Is it true?
well, it's run by the Prime Minister's husband.. so it's going to work for the advantage of the MIW
PM's husband lol.
I wonder how they'll go about this :
"corporatisation will
make Changi Airport more innovative and nimble."
I have no doubts they're going to charge tourists for every piece of luggage that ever uses the baggage carousel. Maybe they'll make the people pay taxes for using the toilets too...
Whatever it is,SIA and its subsidiaries will gain.CIAS,Swissport and other private co will find it tougher.Thats bussiness in SG