Changi Airport hits 70.4 million passengers on 12-month basis as margin pressure builds

Changi Airport handled 70.4 million passengers in the 12 months to March 2026, a record for any rolling 12-month period and up 2.9% year on year. In the first quarter of 2026, traffic reached 17.6 million passengers, up 2.3% from a year earlier.

The latest volume milestone extends a recovery that had already produced a record 69.98 million passengers in calendar 2025, surpassing the airport’s pre-pandemic benchmark of about 68.3 million in 2019. Changi Airport Group’s financial results for the year ended 31 March 2025 showed net profit of S$841 million, more than double the prior year, on revenue of S$3.07 billion and 68.4 million passengers.

The recent traffic gains come as Changi continues to invest in Terminal 5 and related airside and landside expansion, while higher operating costs and capital spending are weighing on near-term margins.