Sydney capitalises on passenger recovery

Gavin Lipsith

The airport has cited retail developments as key factors in its improved earnings for the year to June 30

Sydney International airport owner Macquarie Airports has reported an 11.5% increase in pre-tax earnings for the year to June 30. The airport, which recorded EBITDA of A$585.8m ($516.4m) for the year, mentioned the new duty-free contract with The Nuance Group that began last November and the renovation of retail areas in terminal two as key factors in the better earnings.

Macquarie Airports CEO Kerrie Mather said: “International traffic growth has shown a sustained recovery over the last six to nine months and we are particularly pleased with the 9.9% increase in revenue achieved for the year to June 2007 versus 6.4% growth in traffic, reflecting improved yields from all commercial businesses.”

Aeronautical revenues, excluding security recovery, increased by 9.3% and retail revenues increased by 8.3%.