Sydney Airport has registered a 2% growth in second quarter earnings before interest, tax, depreciation and amortisation (EBITDA) from a year before despite a tough operating period.
The airport, Australia's main gateway, earned A$160 million ($131 million) in the three months ending 30 June, up from A$156.9 million. For the first half of the year, earnings grew by 2.1% to A$325.4 million, its parent Macquarie Airports (MAp) said in a stock exchange filing. Revenues were up 1.8% during the quarter at A$200 million and 1.8% higher for the six months at A$404.5 million.
MAp's CEO Kerrie Mather said that the airport "continued to deliver sound performance through the first half of 2009" despite a "challenging" external environment due to the economic crisis.
Sydney won new airline business during the first half of 2009 with Air Austral and V Australia commencing operations, while Tiger Airways was increasing its services on the Sydney-Melbourne and Sydney-Adelaide routes. Passenger traffic is also increasing as Qantas Airways added capacity as it received additional Airbus A380s, said MAp.
Source: Air Transport Intelligence news
