Airstralia Development Group (Perth Airport)

Perth Airport is strategically located as one of Australia's closest airports to South East Asia, Europe and Africa. It is Australia's fourth largest airport in terms of passenger traffic, and is the principal gateway to Western Australia and its significant resources sector.

Performance highlights 2009

Total revenue for the financial year was $209.7 million and EBITDA was $130.7 million,
an increase of 14.3(1) percent and 13.1(2) percent respectively over the previous year.

Passenger numbers for the year to 30 June 2009 outperformed the prior year by 6.1 percent supported by the continued growth of low cost carrier (LCC) services and strong competition between airlines for market share on high yielding routes. International passenger numbers reached 2.6 million, up 4.2 percent on the previous year while domestic passenger numbers grew to 7.1 million, up 6.7 percent. The number of seats available across all routes grew by 11.5 percent in the 2009 financial year.

In May 2008, Perth Airport announced a phased redevelopment to expand and reconfigure the Airport over the next five to nine years. Phase 1 is a new terminal (Terminal WA) dedicated to internal Western Australian air services and some interstate flights as well as significant domestic and international terminal redevelopments to increase the capacity and improve the customer service of the terminals. Phase 1 is targeted for completion by mid-2012. Phases 2 and 3 will deliver new consolidated international and domestic passenger facilities, their precise timing to be determined by future air services demand.

During the year, management released its draft Master Plan confirming the Airport's current expansion plans as well as identifying road upgrades required to improve access around the airport. Perth Airport is now in the final stages of securing new banking facilities to refinance its existing debt maturing in November 2009 and to provide funding towards Perth Airport's capital expenditure plans over the next three years.

Performance outlook

Passenger growth is expected to remain resilient during 2010, however, growth rates are expected to be lower relative to the high growth rates experienced in recent years. A key focus for management will be to finalise aeronautical price negotiations with airlines in order for Terminal WA works to begin.

Perth Airport
Financial and operational performance

* CAGR: Compound Annual Growth Rate
(1) Excluding unrealised valuation gains on investment properties.
(2) Normalised EBITDA.

For further information please visit the Perth Airport website.

For historical Annual Reports please click here.