$150 million for aviation industry to boost productivity, cope with costs: Lui Tuck Yew
Published on Jul 18, 2014 7:23 PM
SINGAPORE - The aviation industry will get two help schemes worth $150 million in total to boost productivity and cope with costs, to help it stay competitive, announced Transport Minister Lui Tuck Yew on Friday night.
The national aviation authority, the Civil Aviation Authority of Singapore (CAAS), will roll out a $100 million Airport Productivity Package over the next four years, and absorb $50 million of air navigation services charges in the next two financial years.
The productivity package includes $20 million in funds to help the industry adopt new airport equipment, and about $17 million for two competition-based programmes to find ways to keep Singapore's aviation industry sustainable.
This is part of a national and industry drive to "promote productivity more aggressively", said Mr Lui at the aviation community's annual reception, held at Chijmes Hall.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!