Travel businesses don’t get any better than Sydney Airport which has just revealed it made almost A$2m a day in 2009, the monopoly cash cow posting a 5.6% gross profit of A$690.2 million. Wow! Wonder how airlines feel feel about an increase in aeronautical revenues of 8.2% to A$343m despite “modest traffic declines” in the first half.
I’m guessing that boost would have to result from higher landing and servicing fees while Sydney Airport ‘s airline customers are discounting to fill aircraft. Hmmm. Highlight was final quarter passenger growth of 7.3% over 2008. Retail was flat but should bounce soon as the redevelopment of Terminal 1 concludes. Sydney Airport is majority owned by MAp Airports.