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Sydney Airport Announces Ongoing Traffic Growth for September

Sydney Airport Announces Ongoing Traffic Growth for September
Oct 20, 2015 By Imran Valibhoy Tags: SYD

Sydney Airport (ASX:SYD) reported a 3.9% rise in passengers for September as it continues to experience ongoing growth in both domestic and international traffic.

In an announcement to the ASX this morning, Sydney Airport reported a 5.2% growth in international passenger traffic and a 3.3% rise in domestic traffic for September. The international result was driven by a 3.8 percent rise in load factors. The domestic increase in traffic was due to a 2.2% increase in seat capacity. A passenger load factor is a measure of the capacity utilization of the aircraft and a deciding factor for revenue generation of an airline.

According to Managing Director and CEO Kerrie Mather, “Foreign nationality demand (+7.1%) contributed to international passenger growth, with Chinese (+13.5%), USA (+8.9%), and Philippine (+48.5%) nationalities performing well. Australian outbound also grew strongly (+4.5%), as a result of increased demand over the school holiday period. The Philippines (+33.8%), Chile (+21.0%), UAE (+12.6%) and USA (+8.4%) were amongst the fastest growing destinations for Australian travellers.”

Sydney Airport sees new growth opportunities as Qatar Airways is set to commence services to Sydney from 1 March 2016. This service is for Sydney - Doha daily on a 335 seat Boeing airline, adding 245,000 seats annually. This new service announcement came after an increase in the bilateral Air Service Agreement by seven additional weekly frequencies.

Other airlines such as Indonesia AirAsia X will be commencing services between Sydney and Denpasar five times per week from 17 October. Qantas has announced that it will commence seasonal services between Sydney and Bali due to increasing Australian demand. This will increase Qantas frequency between Sydney and Bali by approximately 50% over the peek months of December and January.

Yesterday Sydney Airport announced an ongoing process regarding the development and operation of Western Sydney Airport. Sydney Airport has been awarded the Right of First Refusal for the Western Sydney Airport which gives Sydney Airport the right to take on the project. An Environment Impact Statement (EIS) and a draft plan for Western Sydney Airport have also been released for public exhibition. The EIS and Airport plan are set to be finalised in the first half of 2016.

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Imran Valibhoy Author: Imran Valibhoy Oct 20, 2015

Since Joining the firm in 2006, Imran has worked on a range of M&A and Capital Market transactions in the natural resources, mining as well as projects in the renewable energy sector. Prior to joining Wise-owl, Imran worked at Euroz Securities in Perth, aiding in the advisory and valuation of companies in the mining and industrial sectors in Australia. Imran has a Masters in Banking & Finance from City University's Class Business School in London and a Bacheloor degree in Commerce from UWA.

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