Passenger Surge Boosts Financial Recovery Of Australia's Major Airports: Report

SYDNEY, (APP - UrduPoint / Pakistan Point News - 1st May, 2024) A new government report has shown that the aeronautical operations of Australia's four major airports returned to profit in 2022-23, the first full financial year since the end of COVID-19 travel restrictions.

In its Airport Monitoring Report released on Tuesday, the Australian Competition and Consumer Commission confirmed that Brisbane, Melbourne, Perth, and Sydney airports saw 100.7 million passengers in total passing through in 2022-23, up 127.4 percent from the previous year.

But the number of domestic passengers was still 10.

4 percent below pre-pandemic levels, with international passengers 31 percent below.

According to the report, Perth Airport recorded an aeronautical operating profit margin of 34.6 percent in 2022-23, followed by Sydney Airport at 29.1 percent, Brisbane Airport at 28.8 percent, and Melbourne Airport at 22.9 percent.

Perth Airport's aeronautical operating profit margin was slightly higher than its 2018-19 record of 34.2 percent, but the readings of Sydney, Brisbane, and Melbourne were lower than before the pandemic,