Sydney Airport (ASX:SYD) revenues plummet by travel ban

Company News

by Lauren Evans

Sydney Airport (ASX:SYD) faced a challenging 6 months for the period ending 30 Jun 2021, due to ongoing Covid-19 restrictions.

The international airport delivered revenue of $341.6 million, down 33.2 per cent from the prior year period.

Sydney Airport welcomed 6 million passengers for the half year, a decline of 36.4 per cent from the prior year period. Of that, international passengers declined 91 per cent and domestic passengers declined 3.1 per cent. 

Chief Executive Officer Geoff Culbert said, “it was a challenging six months, but we were encouraged to see passenger traffic rebound strongly every time borders were open."

He continues, "from January to April, we recovered to 65 per cent of our pre-covid domestic passengers and in just over two months between late April and June, trans-Tasman traffic recovered to more than 40 per cent of pre-covid levels."

Shares in Sydney Airport (ASX:SYD) are trading 0.06 per cent higher at $7.725. 

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