Qantas to benefit from surging airport traffic: Macquarie

Macquarie analysts say the strong airport traffic would help shore up revenues of Qantas’s domestic operations.

Analysts at Macquarie Research yesterday said strong airport traffic would help shore up revenues of Qantas’s domestic operations.

The comments in a note to clients came after Sydney Airport released figures showing that domestic traffic was 3.6 per cent higher in June compared with the same period last year.

The nation’s busiest airport also confirmed its strongest monthly surge in international traffic for the year.

The figures, released to the ASX, show that international traffic had grown 9.7 per cent year on year, in part because of the growth in Chinese capacity.

Sydney Airport managing director Kerrie Mather said Sydney Airport was well placed to benefit from passenger growth from China. “Our international markets continue to perform well, particularly to China, and follows the open skies agreement between the two countries in December 2016,” Ms Mather said.

The major carriers have been looking to capitalise on China’s growing middle class and the big rise in international travel and tourism.

Sydney Airport will report its financial results on August 22.