A Financial Analysis of Seletar Airport

This report presents a financial projection for Seletar Airport until the fiscal year 2027/2028. Currently, Seletar

has a negative operating result, but starting at the end of 2018, turboprop traffic will be moved from Changi to

Seletar in order to free up capacity at the former. Based on three different traffic development scenarios, the financial

impact of the accommodation of commercial passenger traffic at Seletar is analysed. A modest traffic development

scenario (410,000 passengers in 2027/2028) leads to a slight increase of the current loss, while scenarios with

around 900,000 passengers show substantial financial improvement. Financial projections are especially sensitive to

assumptions regarding the development of airport charges and the dependence of non-aeronautical revenues and

expenses on passenger development.