The new Airport Monitoring Report from the Australian Competition and Consumer Commission (ACCC) shows that there was a marked increase in airport investment in the nation’s four largest airports in the 2024-2025 financial year, with the $1.5 billion invested up more than 43 per cent compared to the previous year.
And over the next 10 years, the four airports have flagged potential investments of just shy of $20 billion, including new terminals at both Perth and Brisbane airports, a third runway in Melbourne and integration of Sydney Airport’s T2 and T3 terminals, which will see 12 more international gates added and bring domestic, regional and international flights together.
The almost $20 billion figure does not include the $4.5 billion expansion of Melbourne Airport’s international terminal, announced last month.
“Ongoing investment is needed to ensure airports can continue to meet the needs of travellers and airlines, with Sydney, Melbourne, Brisbane and Perth airports collectively handling about 120 million passengers in 2024-25,” said ACCC commissioner, Anna Brakey.
“Large capital programs are likely to place upward pressure on airport charges paid by airlines, which may result in higher airfares for passengers as these costs are recouped.
“It is important that airport charges reflect sensible and timely investment decisions, efficient costs and a rate of return that matches the risks involved,” she said.
The ACCC report also notes record revenues for aeronautical operations amongst the four airports in the 2024-2025 financial year, amidst moderating growth rates for passenger numbers.
Between them, Sydney, Melbourne, Brisbane and Perth airports raked in $2.9 billion in revenue over the last full financial year, with Sydney Airport claiming the most operating profit at $584.3 million.
“Sydney Airport continues to earn significantly more aeronautical revenue and profit than the other major airports, both from a total and per‑passenger perspective,” said Brakey.
“Sydney Airport’s aeronautical profits eclipsed all of the other airports combined, more than double Melbourne as the next most profitable.”
However, Perth Airport had the largest proportional growth in aeronautical profits, boasting a 73.7 per cent rise.
The ACCC said the increase in passengers serviced by the four airports had decelerated, with growth of 4.6 per cent, down from 13.7 per cent in the 2023-2024 financial year.
Passenger growth over the most recent financial year was largely due to an increase in international passengers, with Perth Airport’s international rise the largest, up 17.8 per cent compared to Sydney Airport’s, which was the smallest, with a 5.5 per cent increase in international travellers.
