Rebound in passengers helps Australia's major airports' financial recovery

The aeronautical operations of Brisbane, Melbourne, Perth and Sydney airports returned to profit in 2022-23, the first full financial year since the end of COVID-19 travel restrictions, the Australian Competition & Consumer Commission's (ACCC) latest Airport Monitoring Report shows. All four monitored airports had reported losses on their aeronautical operations in 2021-22. The four airports reported a total of 100.7 million passengers passing through in 2022-23, up 127.4% from the previous year. However, the number of domestic passengers was still 10.4% below 2018-19 (pre-pandemic) levels, and international passengers 31% below. ""The airports stayed open during the pandemic and continued to incur some aeronautical expenses, without their usual level of accompanying revenues. As passengers returned in 2022-23, aeronautical revenues increased more than expenses, which lifted profit margins closer to pre-pandemic levels,"" said ACCC commissioner Anna Brakey. The four airports combined invested AUD$559 million in aeronautical operations in 2022-23, which is a relatively modest amount compared to years prior to the pandemic. Much of this investment was by Melbourne Airport in a range of facilities such as roads, taxiways and terminals.