Chinese arrivals lift Sydney Airport profit

Sydney Airport's US$764.88 million earnings were a 12 per cent increase in unaudited consolidated earnings for the full year before interest, tax, debt and amortisation, reported the Daily Telegraph.

MAp CEO Kerrie Mather welcomed "increases across all revenue streams and strong traffic growth." Some 11.391 million international passengers passed through the terminal last year, up 37.1 per cent since 2003. This was forecast to reach 20 million by 2020 and 30 million by 2029.

Sydney hosts 44 per cent of Australia's international passengers and 38 airlines at the international terminal.

China, Korea and Japan inbound passenger numbers were strong. "Chinese arrivals into Sydney nearly doubled from 147,148 in 2004 to 282,641 in 2010," Sydney Airport CEO Russell Balding said.

Hainan Airlines' first A330 Sydney flight landed yesterday.

"NSW is home to about 55 per cent of Australia's Chinese-born people," Balding said.
(Source:www.cargonewsasia.com)