The proposed systems - which will see a second operating system and two winches installed - are still in the design and concept phase, with parts currently being sourced from manufacturers, The Straits Times understands.

With just over a week to Chinese New Year, there is doubt about whether the Flyer can open by the target date - which, by chairman Florian Bollen's own admission, was 'very ambitious'.

Sources felt that at least four to six weeks will pass before the reopening.

The Flyer, the world's biggest observation wheel, has been closed since Dec 23, when an electrical fire knocked out its operating system and left 173 people trapped for six hours.

The incident resulted in police ordering a shutdown of the attraction because of public safety concerns.

After repairs are done, the Flyer will have to construct the backup systems.

Industry specialists, who declined to be named, citing sensitivity issues, said that building the initial structural support for the construction alone could take up to four days.

After that, it will be 'weeks, not days' before construction and installation of the new systems are completed, the specialists said.

That is not all.

Once the systems are up and running, TUV SUD, a German certifying organisation, will have to inspect and test them before submitting a report to Singapore's Public Entertainment Licensing Unit (Pelu).

Ms Liz Fendt, TUV SUD Asia-Pacific's vice-president of regional marketing, was unable to confirm how long the testing would take. 'It would first depend on the timeframe and implementation of the new systems. Only then can we put together a test plan,' she said.

TUV SUD took several weeks to certify the Flyer fit for operation in February last year before it opened.

After this, the approval of 'multiple' government agencies is needed - a period that is likely to take more than just a few days, according to a source - before Pelu gives the final go-ahead.

And while the Flyer stands still, its owners are bleeding money.

Its management was unable to say how much the new systems would cost to design, build and install, although The Straits Times understands it could run into the low millions. This would be on top of a substantial loss of income, 80 per cent of which is derived from ticket sales.

The Flyer's finances would not be the only thing to take a hit if it does not reopen soon, say tourism industry experts.

Mr H.P. Loi, chief executive of the Tourism Management Institute of Singapore, said that a closure any longer than two months would be 'very bad for its image', especially with visitors.

But Mr Robert Khoo, chief executive of the National Association of Travel Agents Singapore, felt the Flyer could regain lost ground quickly.

'I don't think Singaporeans and foreigners would be afraid to board it when it reopens. But communication is very important, and the management will have to give the assurance that it has implemented new measures and knows what to do if something like this happens again.'

twong@sph.com.sg