Sydney Airport’s revenue soars to more than $1bn

sydney

Sydney Airport’s annual earnings have soared to $1.2 billion thanks to a return to pre-pandemic performance.

The figure is double last year’s revenue of $537 million.

Sydney Airport had 38.6 million passengers in 2023, up from 29.1 million a year earlier, but still below 2019’s record of 44.4 million passengers.

The airport’s revenue was lifted by increased aeronautical fees, car rentals, property leases and parking fees.

Despite the surge in earnings, Sydney Airport still reported a $588 million net annual loss in 2023 after higher finance costs.

The latest figures will please the airport’s new owners, a consortium led by IFM Investors and the US-based Global Infrastructure Partners.