The Australian Competition and Consumer Commission (ACCC) has released its latest Airport Monitoring Report, revealing that the four largest airports in Australia—Brisbane, Melbourne, Perth, and Sydney—achieved record aeronautical revenues of $2.6 billion in 2023-24. This represents a 24.3% increase, despite the airports collectively handling fewer passengers than before the COVID-19 pandemic.

Passenger numbers grew by 13.7% to 114.6 million since the previous year, but remained 4.7% below the levels seen in 2018-19. The significant increase in aeronautical revenues was largely attributed to a 32.1% rise in international passenger numbers, as noted by ACCC Commissioner Anna Brakey. Domestic passenger numbers also saw a growth of 6.7%.

Sydney Airport emerged as the most profitable airport, recording an aeronautical operating profit of $570.5 million, which translates to a 20.2% return on its aeronautical assets. This profit was partly boosted by back-payments from contractual agreements with airlines that were finalized during the financial year. Brisbane and Melbourne airports also reported substantial increases in their aeronautical operating profits, while Perth Airport experienced a decline due to rising security and depreciation costs.

In addition to aeronautical revenues, all four airports saw growth in operating profits from car parking services, with Brisbane Airport leading at $113.4 million. The report highlighted that car parking remains a highly profitable venture for these airports, with profit margins exceeding 60% for the second consecutive year.

Despite maintaining a 'good' quality of service rating overall, the airports faced declining satisfaction ratings from airlines, which raised concerns about various facilities. The ACCC noted that while passenger satisfaction remained high, airlines expressed dissatisfaction regarding aircraft parking, baggage handling, and public amenities.

Investment in aeronautical facilities has resumed after a pandemic-induced hiatus, with a total of $985.1 million invested in 2023-24. Melbourne Airport accounted for over half of this investment, focusing on essential upgrades and expansions. The report indicates that these investments are expected to enhance capacity and improve flight options for travelers in the future.