Aviation agency CAAS posts 15% jump in net surplus

The Civil Aviation Authority of Singapore (CAAS) posted a 15 per cent jump in its net surplus to $96 million in the year to March 31.

In its annual report released on Thursday, the regulator also reported a small rise in operating income, from $304 million in 2010/2011 to $306 million last year. Spending fell by about $3 million to $219 million.

In a joint message, CAAS chairman Lee Hsien Yang and director-general Yap Ong Heng said 2011 was a good year.

Despite uncertainties in the industry, Changi Airport did well on the back of strong growth in the regional air travel sector and expansion by low-cost carriers.