Rising incomes and urbanisation in China has been a boon for Sydney Airport. China accounted for 44% of international passenger growth in the six months to June and is now the airport’s second-largest international market behind New Zealand. Due to higher rates of spending, the increasing flow of Chinese passengers also benefited the airport’s retailers with retail revenue up 4%.
A 3% rise in international passengers helped the company increase revenue 5%. Aeronautical revenue, which accounts for around half of the total, rose 5%, while the airport’s other divisions also posted moderate gains.