Queensland Airports Limited (QAL)
| AIX interest in QAL: | 49.1% |
| TIF interest in QAL: | 33.7% |
QAL owns and operates three key airport facilities in Queensland, Australia. Gold Coast Airport is located near one of the major tourist destinations in Australia; Townsville Airport services the growing far north Queensland region; while Mount Isa Airport services the mining sector and commercial trade in the township. Passenger traffic through these airports is predominantly state and Australian based; however, Gold Coast experienced significant growth in international passenger traffic in the year.
Performance highlights 2009
Total revenue for the year was $83.8 million and EBITDA was $47.7 million, increases of13.6 and 13.0 percent respectively on the previous year.
Gold Coast and Townsville Airports experienced passenger growth of 7.6 percent and 3.7 percent respectively, while passengers at Mount Isa Airport declined 7.1 percent.
In spite of challenging economic conditions, Gold Coast Airport experienced strong growth through its market position as a dedicated low cost carrier (LCC) airport. Passenger growth at Gold Coast Airport was largely driven by growth in international passengers from a number of destinations in the Asia-Pacific region.
Jetstar expanded its international operations to include new routes to Osaka, Tokyo and Auckland. AirAsia X maintained its Gold Coast-Kuala Lumpur flights, increasing capacity over the busy holiday period from mid December to mid January. AirAsia X has also grown the number of destinations available from Kuala Lumpur, providing connections to a broader network of destinations including London.
As a result, international passenger numbers for the 2009 financial year were double the prior year at just over 569,000 passengers (including transits).
In April 2009, Virgin Blue commenced four new routes from Townsville Airport to the Gold Coast, Canberra, Rockhampton and Cairns. Mount Isa Airport's passenger traffic was adversely affected by the failure of regional airline, MacAir, and a downturn in the resources sector reflecting broader economic conditions.
The major redevelopment of QAL's Gold Coast Airport terminal facilities is progressing on time and on budget, having delivered additional departure gates, as well as new retail, food and beverage offerings. Full completion of the terminal is expected by March 2010.
Performance outlook
The outlook for financial year 2010 is cautiously optimistic, with QAL positioned to benefit from Gold Coast Airport's LCC strategy and development as a hub airport. Townsville is seeing continuing increases in seat capacity, leading to record monthly passengers in July 2009. However, the operating environment for Mount Isa Airport is likely to remain challenging in the short term.
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Queensland Airports Limited
Financial and operational performance
| 30 June year end | 2005 | 2006 | 2007 | 2008 | 2009 | CAGR* 05/09 |
| Passengers (m) | 4.5 | 5.0 | 5.3 | 6.0 | 6.4 | 9.4% |
| Revenue ($m) | 46.9 | 56.4 | 64.2 | 73.8 | 83.8 | 15.6% |
| EBITDA ($m) | 30.5 | 38.2 | 43.8 | 42.2 | 47.7 | 11.9% |
* CAGR: Compound Annual Growth Rate
For more information please visit the Queensland Airports Limited website.
For historical Annual Reports please click here.