Sydney Airport (ASX:SYD) reports on October traffic

Company News

by Lauren Evans

Sydney Airport (ASX:SYD) continued to face another challenging month in October following ongoing travel restrictions.

Total passenger traffic for the month reached 65,000 passengers, down 98.4 per cent from the same period in 2019 and 71.1 per cent lower than 2020.

Breaking it down, total domestic passengers reached 46,000 , down 98.2 per cent from 2019 and down 27.5 per cent from 2020. Total international passengers that passed through reached 19,000, down 98.6 per cent from 2019 and down 49.3 per cent from 2020, as international travel continued to be impacted by border restrictions.

From November 1, international borders were open to Australian citizens and permanent residents who were fully vaccinated. From November 5 the Victorian and NSW borders were opened, allowing free travel between these states.

For the first 15 days of November, provisional data indicates international passenger traffic was down around 95 per cent and domestic passenger traffic was down around 87 on the corresponding period in 2019, according to the company.

Shares in Sydney Airport (ASX:SYD) are trading 0.1 per cent lower at $8.41.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.