With passenger traffic down 98% year-on-year in November, the aviation sector is not expected to recover anytime soon. In late December 2020, the Singapore Government stated it will provide an additional SGD 84 million (USD 63.5 million) worth of support for aviation companies and workers. This is on top of the current support already provided, including the Aviation Sector Assistance Package and the Enhanced Aviation Support Package.
The additional support will be split into three areas.
- SGD 30 million (USD 22.6 million) will be allocated to help aviation companies manage increased operating costs. This would be done though supporting the development and adoption of new technologies and sanitization systems, as well as providing rebates for various fees and services.
- A further SGD 20 million (USD 15 million) will be allocated to provide assistance for workers to retain and retrain their skills. The government would fund support for existing aviation workers to acquire new skills to transition to other roles, as well as fund support for Singapore-based airlines to re-train pilots.
- Lastly, the remaining SGD 25 million (USD 19 million) will be added to the Aviation Development Fund, which will provide up to 90% funding for companies to continue their own innovation and productivity initiatives.
(Source: Civil Aviation Authority of Singapore)