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Perth Airport has reported a $125.4 million net profit after tax for the 2023–24 financial year.
All airport operations saw a boost in revenue, including aviation, ground transport, property, and retail, driving a $420.8 million EBITDA for FY2024. Revenue and net profit were both up on the 2022–23 financial year.
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The financial results came as Perth Airport exceeded its pre-pandemic capacity for the 2023–24 financial year and resolved a long-standing dispute with Qantas over the airline’s move to the Airport Central precinct.
“In FY24 our push for increased international connections paid off with new routes, the post-Covid return of a number of international airlines, and increased flight numbers on several existing routes,” said airport CEO Jason Waters.
“This included the Qantas Perth-Paris service, Vietjet and Vietnam Airlines flights to Ho Chi Minh City, Batik Air and Citilink services to Jakarta, and Singapore Airlines and Cathay Pacific both lifting capacity into Perth.
“We expect this to build even further in 2025 when the Routes Asia conference takes place in Perth – an event Perth Airport played a major role in securing.
“Our Operations team has done a remarkable job in managing almost 157,000 aircraft movements and more than 16.1 million passengers safely and securely.”
Waters also highlighted the airport’s major works program, which he said would “completely change the face of Perth Airport” over the next five to 10 years.
“We have already started this transformation with work commencing on our first multi-storey carpark and significant changes to our access road network. All Jetstar flights have now moved to Terminal 2, and we are progressing works to further increase capacity and passenger comfort in that terminal.”
“We expect the new parallel runway project to be the next cab off the rank. This additional capacity delivered by the new runway will underpin future growth in the tourism and aviation sector. It will also be critical for the FIFO-based resources sector with the Chamber of Minerals and Energy pointing to $147.2billion worth of resources projects in the pipeline.
“Design work is continuing for the expanded international terminal and the new Qantas domestic terminal. These will be complemented by our first airport hotel, with a second multi-storey car park at a later date.”
More than 16.1 million passengers used Perth Airport in FY24, breaking the previous record of 14.9 million in FY14. The airport also saw its highest-ever number of regional passengers, at just over 6 million, outstripping interstate at 5.7 million and international at 4.3 million.
Regional traffic, including FIFO, has been the backbone of Perth’s recovery for some time, with the airport almost reaching 100 per cent of pre-pandemic passengers in the 2022–23 financial year off the back of surging regional numbers.
In January, the airport became the first major Australian gateway to surpass total pre-COVID-19 passenger traffic.
