Image Sourced Chaiyabutra Shutterstock.com
Market Herald logo

Subscribe

Be the first with the news that moves the market

Sydney Airport has reported a whopping 3.5 percent decrease in passengers for March this year compared to March 2018.

Domestic passengers decreased 3.4 percent and international passengers decreased 3.8 percent. The largest losses came from a 12.7 percent decrease in Chinese passengers and 10.6 decreases of UK passengers.

Sydney Airport CEO Geoff Culbert blamed the negative performance on a shift in the timing of the Easter period and the Lunar New Year.

“Domestically, the trends for March were similar to the year to date, where a decrease in frequencies, aircraft downgauging and subdued load factors drove a reduction in domestic passengers for the month,” he said.

Sydney Airport currently generates $30.8 billion a year, equivalent to 6.4 percent of the NSW economy. Management did report however a huge jump in American passengers at 11 per cent. Passengers from South Korea also increased by 7.3 per cent.

Management at Sydney Airport Holdings currently has a 99-year lease on the Kingsford Smith Airport.

After the lease, ownership will revert back to the government.

Please see the announcement attached

SYD by the numbers
More From The Market Herald
The Market Herald Video

" Cleanaway Waste Management (ASX:CWY) to raise $400m to acquire Global Renewables

Cleanaway Waste Management (ASX:CWY) has launched $400 million capital raise program to fund its BluePrint 2030…
Titomic (ASX:TTT) - Managing Director, Herbert Koeck

" Titomic (ASX:TTT) enters key Middle Eastern markets

Titomic (ASX:TTT) signed an agreement with Repkon Foreign Trade and Marketing to become an official reseller…

" Nutritional Growth Solutions (ASX:NGS) launches Healthy Heights into select Walmart stores, enters trading halt

Nutritional Growth Solutions (ASX:NGS) has launched two Healthy Heights KidzProtein products in an initial 403 Walmart…
The Market Herald Video

" DW8 (ASX:DW8) launches $9.85m capital raise for Kaddy platform

DW8 (ASX:DW8) has launched a $9.85 million capital raising to fund the growth and maintenance of…