Sydney Airport Passenger Traffic slides by 97.4% | ASX Market Update

  • Jun 19, 2020 AEST
  • Team Kalkine

Jetstar's website has been clogged by Australians eager to make the most of heavily discounted flights in what's hoped to be a massive boost for the struggling domestic travel industry. Fares will cover 35 routes across 15 destinations in New South Wales, Victoria, South Australia, Northern Territory and Queensland. There are 200,000 heavily discounted tickets up for grabs, including 10,000 seats on sale for $19. Travel is for select periods between 14 July and 31 October.

Sydney Airport has reported a 97.4 per cent slide in passenger traffic in May. Australia's biggest airport had total passenger traffic of just 92,000 passengers during the month, compared to 3.5 million a year ago. Of this, only 29,000 international passengers passed through its doors. May's decline follows a similar slide in passenger numbers in April. As a result, passenger numbers are down 49.4 per cent so far in this financial year. Australia first barred entry for foreign nationals travelling from mainland China on February 1 and gradually extended to several countries from March 21.

AMP Capital's global head of infrastructure equity Boe Pahari has been promoted to chief executive from July 1. He will succeed incumbent Adam Tindall who will retire from the role after five years. Mr Pahari joined AMP Capital in 2010 and has led the global expansion of the Infrastructure Equity business, which had $23 billion in assets under management in FY2019. He will continue to oversee the Infrastructure Equity business. Mr Tindall has helped grow assets under management by about $43 billion during his tenure as the CEO.

#Sydney #AMP #Jetstar #Australia #Kalkine


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