Travel money services provider Travelex won the tender for a new five-year contract at Singapore Changi Airport.
The new contract runs from July 2024 to July 2029 and will enable Travelex to expand its footprint within the airport with an additional ten bureaux, particularly in Terminals 1 and 4.
At present, it currently runs ten retail FX bureaux at Changi. These facilities are open at all hours, seven days a week, offering over the counter conversion of over 50 global currencies.
Regarding the tender, Travelex CEO Richard Wazacz said: “We are immensely proud of our relationship with Changi, an airport that is widely acknowledged as one of the best in the business. Extending our contract and doubling our footprint is therefore a real vote of confidence in the Travelex business as travel across Asia continues to rebound at pace.”
A major milestone
The tender win at Changi represents a major milestone for Travelex as it continues to expand its retail presence across the world’s leading airports. Last year Changi was named the World’s Best Airport at the World Airport Awards for a record 12th time, as well as winning the awards for World’s Best Airport Dining and World’s Best Airport Leisure Amenities.
The news of Travelex’s tender win at Changi also comes as travel to both Singapore and across Asia continues to rebound. The latest IATA figures show that Asia-Pacific airlines have seen a 27 percent year-on-year increase in demand vs May 2023. This performance maintains Asian carriers as the largest contributor to industry-wide growth in May, accounting for 42 percent of the total global year-on-year demand increase.
