MAp Airports' Sydney Airport has posted a 6.1% growth in earnings for 2009, as passenger traffic and revenues recovered in the year's last quarter.
For the year ending 31 December, the airport reports A$689.3 million ($622 million) in earnings before interest, tax, depreciation and amortisation (EBITDA), compared with A$649.4 million in 2008.
"Sydney Airport has delivered an outstanding performance for both the full year and the final quarter ...we're particularly pleased with the recovery in the final quarter, delivering 7.3% growth in passengers and 11.8% growth in EBITDA," says MAp's CEO Kerrie Mather.
Aeronautical revenues grew 8.2% to A$343.7 million, while total revenue grew 5% to A$853.2 million, says MAp.
Operating costs rose 1.2% to A$160.1 million from 2008, adds the airport operator.
The airport took measures in 2009 to tighten its costs, says Mather.
"Sydney Airport's shareholders took decisive action to strengthen its balance sheet and as a result the airport has no refinancing requirements until late 2011 and is in a strong financial position," she adds.
Source: Air Transport Intelligence news