Sydney Airport Provided Traffic Performance For March 2019

Sydney Airport Provided Traffic Performance For March 2019

Sydney Airport (ASX: SYD) witnessed a decline in International and Domestic passenger during March 2019 as compared to the previous corresponding period (pcp). The decline in the passengers was mainly driven by the shift in the timing of both Easter and Lunar New Year which impacted both seat capacity and load factors. However, strong load factors on North American routes helped boost US traveller growth to 11%. International and Domestic passenger numbers declined 3.8% and 3.4% respectively on pcp. During the month of March, 3,652 passengers travelled through Sydney Airport which includes 2,333 domestic passengers and 1,319 international passengers.

syd1

Source: Company’s Report

While commenting on the March traffic performance, the Airport’s CEO Geoff Culbert told that domestically, the trends for March were similar to the year to date, where a decrease in frequencies, aircraft downgauging and subdued load factors drove a reduction in domestic passengers for the month.

During Y18, the Airport’s total passengers increased by 2.5% to 44.4 Mn, with international passengers increasing by 4.7 percent to 16.7 Mn. For Sydney Airport, the year 2018 was an impressive year with both international and domestic passenger numbers at record levels, total revenue increasing by 6.8 percent and revenue growth across all its four businesses.

With passenger numbers growing year on year, increasing and supporting landside efficiency is a key focus area. During 2018, the Airport completed its precinct road network upgrades which have increased road capacity at T1 and improved traffic flows at T2 and T3. The Airport has also reached agreement with the NSW Government on the proposed Sydney Gateway corridor. Once complete this will enhance access to the airport.

With more than 40 Mn passengers moving through the airport in a year, the Sydney Airport is playing a vital role in the transport value chain. The airport is bringing together a wide range of parties that jointly facilitate tourism, business travel and logistics, creating value for the economy while providing a gateway for other sectors and industries that are depending on a reliable flow of people and goods.

Currently, he airport is focusing its organisational effort on three flagship initiatives: climate resilience, fleet electrification and the optimisation of its airfield and airspace. Further, the Airport will continue to enhance its infrastructure offering and invest for capacity growth.

Now, let’s have a glance at the Airport’s stock performance and the return it has posted in the last few months. The stock is trading at a price of $7.360, down by 0.675% during the day’s trade with a market capitalisation of ~$16.72 billion as on 18 April 2019 (AEST 12:50 PM). The counter opened the day at $7.450 and reached the day’s high of $7.450 and touched a day’s low of $7.340 with a daily volume of ~ 2,350,222. The stock has provided a year till date return of 11.43% & also posted returns of 11.60%, 12.27% & -0.67% over the past six months, three & one-month period respectively. It had a 52-week high price of $7.620 and touched 52 weeks low of $6.240, with an average volume of ~ 6,709,547.


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