Sydney Airport reports 3.5 per cent decrease in passengers for March

Sydney Airport has reported a whopping 3.5 percent decrease in passengers for March this year compared to March 2018.

Domestic passengers decreased 3.4 percent and international passengers decreased 3.8 percent. The largest losses came from a 12.7 percent decrease in Chinese passengers and 10.6 decreases of UK passengers.

Sydney Airport CEO Geoff Culbert blamed the negative performance on a shift in the timing of the Easter period and the Lunar New Year.

“Domestically, the trends for March were similar to the year to date, where a decrease in frequencies, aircraft downgauging and subdued load factors drove a reduction in domestic passengers for the month,” he said.

Sydney Airport currently generates $30.8 billion a year, equivalent to 6.4 percent of the NSW economy. Management did report however a huge jump in American passengers at 11 per cent. Passengers from South Korea also increased by 7.3 per cent.

Management at Sydney Airport Holdings currently has a 99-year lease on the Kingsford Smith Airport.

After the lease, ownership will revert back to the government.

Please see the announcement attached