Australian airports report record revenues despite fewer passengers

Australia's major airports reported record airline revenues despite passenger numbers still lagging behind pre-pandemic levels. The Australian Competition and Consumer Commission noted a 13.7% year-on-year increase in passengers, totaling 114.6 million, but still 4.7% below 2019 figures. International traffic surged by 32.1% year-on-year, contributing to a combined operating profit of AUD1 billion ($635 million) for the four airports. However, Sydney Airport's profits were boosted by back payments from airlines, affecting revenue comparisons. The airports invested AUD985.1 million ($625.5 million) in new facilities during the fiscal year, with Melbourne Airport leading the projects. Upcoming developments include new runways and terminals, as well as the anticipated opening of Western Sydney Airport in late 2026.