Passenger traffic continues to dip; Sydney Airport puts best show in a year

Source: Tooykrub,Shutterstock

Summary

  • Sydney Airport takes the COVID-19 brunt
  • SYD manages to grow month on month, as the airport put up its best monthly performance in year.
  • SYD has witnessed just 94,000 international passengers in 2021, a drop of 97.3% from 3.44 million passengers a year ago.
  • First time since March 2020, Sydney Airport has seen more than one million passengers.

Sydney Airport (ASX:SYD), which connects New South Wales to the rest of world, has witnessed a staggering drop of 78% in passenger traffic in the first quarter of 2020, as Australia tries to prevent the resurgence of COVID-19.

A view of Sydney Airport – located in the suburb of Mascot in Sydney, Australia. © Mingchai | Megapixl.com

However, despite the numbers dropping on a year-on-year basis, they have grown on monthly sequential basis, as the airport put up its best monthly show in year.

In the first three months of 2020, just 2.05 million passengers travelled through the airport, a drop of 77.8% from 9.03 million passengers in the corresponding period last year. Between January and March of 2019, when COVID-19 was not even in sight, 11.01 million passengers had travelled through the Sydney Airport, despite a global economic slowdown.

Also read: Why Australians’ overseas travel hit a 24-year low in 2020

In the wake of the pandemic, the worst-hit category has been that of international travellers. Sydney Airport has witnessed just 94,000 international passengers in 2021, a decimating drop of 97.3% from 3.44 million passengers a year ago. Even though, the airport played host to 1.91 million domestic passengers, yet it is a drop of 65.8% from 5.58 million passengers last year.

Also read: Sydney Airport lurches to loss in FY2020 as COVID-19 bites traffic

Of these 2.05 million passengers who travelled through Sydney Airport this year, more than half of them (1.15 million) travelled in the month of March alone as domestic travel began to pick up slowly.

On a monthly basis, after the drop in January, this is the second consecutive month of passenger traffic jump at Sydney airport. This marks a significant milestone as it is for the first time since March 2020 – when the pandemic started engulfing the entire world – that Sydney Airport has seen more than one million passengers.

Source: Sydney Airport; Graphics By: Kalkine

The airport operator expects the downturn in traffic to continue until the government eases travel restrictions.

Most of the airline companies in Australia were trading in red at the time of filing this copy: Qantas Airways (ASX:QAN) was down 49 basis points (bps), Air New Zealand (ASX:AIZ) down 30 bps and Regional Express Holdings (ASX:REX) we 66 bps.

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK