Sydney Airport Image Sourced ShutterStock
The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Sydney Airport is turning up some good news this week with a better grasp on passenger numbers, compared to a negative performance in March
  • International passengers coming through the airport last month grew by 6.3 per cent compared to this time last year
  • Overall, yearly growth in passengers has been wrangled to only a negative 0.1 per cent, compared to a total decrease in March of 3.5 per cent

Sydney Airport has seen a considerable growth in international passengers this week, a relief from low March numbers earlier in the year.

International passengers coming through Sydney Airport last month grew by an impressive 6.3 per cent compared to May last year.

“The strong International passenger growth in May was driven by increased demand and subsequent load factor increases across most destinations,” Sydney Airport CEO Geoff Culbert said.

On a yearly basis, this represents a 2.1 per cent growth in passengers from overseas. These numbers are comforting to management and shareholders considering the large decrease in foot traffic earlier in March.

Total passenger numbers in March were at a whopping 3.5 per cent decrease with 3.4 per cent less passengers from domestic flights and 3.8 per cent less passengers from international flights.

Today the airport is wrangling for a much better break in those numbers, with total yearly passengers at a negative 0.1 percent growth. While still a yearly decrease, it’s a far cry from March’s worrying numbers.

“In May, we saw double-digit growth from Malaysia, the USA, Greater China and Japan,” Geoff Culbert said.

Yearly domestic passengers are at a growth of negative 1.4 per cent, but international passengers are impressive at a growth of 2.1 per cent.

International flights will further be augmented with Maylasian airliner Malindo Air commencing a daily service from Kuala Lumpur in August. Japan travellers will be boosted with Qantas operating a seasonal flight to Sapporo in December.

Today’s announcement has prompted Sydney Airport to bump 4.42 per cent in the Aussie share market. Shares are trading for $8.27, compared to yesterday’s closing price of $7.92.

SYD by the numbers
More From The Market Herald

Ionic Rare Earths picks WSP to manage UK REE magnet recycling study

Ionic Rare Earths (ASX:IXR) has selected global engineering services firm WSP Global to manage a key…
The Market Herald Video

WA-based engineer SRJ enters US oil and gas market

SRJ Technologies Group's (ASX:SRJ) subsea oil and gas product 'BoltEx' has been purchased by two energy…

Liontown Resources secures long-term agreement with Mid West Ports Authority

Liontown Resources (ASX:LTR) has secured a 10-year port services and access agreement with the Mid West…

AML3D inks contract with defence giant BAE

Metallic-based 3D printing specialist AML3D (AL3) has announced its execution of a contract with multinational defence…