Major airport profits soaring
A Report in the Courier Mail says that Australia’s two largest airports have each reported strong passenger growth during the past year due to increased airline competition and new shopping outlets.
At Melbourne Airport, the numbers of international and domestic passengers increased by 20,000 a week to 22.5 million during the year to June 30 and Southern Cross Airports Corporation Holdings, which runs the national hub, reporting a 6.4% rise in passengers and a 9.3% jump in aeronautical earnings.
Chris Barlow, chief executive of Melbourne Airport, suggested the Jetstar-Virgin Blue fares war had encouraged more people to travel, adding, “Growing competition between domestic carriers is encouraging more people to fly”.
“With such a healthy domestic market, the big winners are consumers with increased competition, new routes and cheaper airfares,” he said.
“These results demonstrate that when airlines provide the seats, passengers will continue to fill them,” he said.
Sydney Airport chief Russell Balding offered a similar response, noting that revenue and earnings growth was being driven by passenger traffic and the success of myriad commercial initiatives.
Total income generated during the year to June 30 rose 9.9 per cent to $724.6 million, Southern Cross reported, with Ch 7 this morning reporting that the largest income growth in Sydney came from car parking.Report by The Mole
John Alwyn-Jones
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