Simple Flying - Andrew Curran
Despite plunging passenger numbers and revenues, three of Australia's four biggest airports managed to make money over the 2020/21 financial year.
Three of Australia's four biggest airports managed to squeeze out a profit when COVID-19 was causing havoc across the aviation industry. On Monday, the Australian Competition and Consumer Commission (ACCC) released a report detailing how the pandemic impacted those airports over the 2020/21 year and what they did to pull through.
The ACCC found that the combined operating profits of the four monitored airports were 95% lower in 2020/21 than in 2018/19. But the competition watchdog also revealed Sydney, Brisbane, and Perth airports still reported a positive operating profit for 2020/21. The ACCC also noted that the airports, so often subject to criticism for price gouging, provided some relief to airlines and some other commercial entities still operating.