News
Sydney Airport slumps into red in 2020, but forecasts appetite for travel ahead
February 24th 2021
Sydney Airport today reported a A$145.6 million (US$115 million) net loss for the 12 months to December 31, 2020, slumping into the red from a net profit of A$403.9 million in the previous year. Read More » Revenue fell 51%, to A$803.7 million, Sydney Airport said in a regulatory filing to the Australian Securities Exchange (ASX). Sydney Airport CEO, Geoff Culbert, is hopeful of a recovery in 2021 following the impact of the COVID-19 pandemic on the business last year. “The recovery won’t be linear, but our experience shows when restrictions are eased and borders come down, people are keen to travel," Culbert said. "With the vaccine rolling out, we are cautiously optimistic 2021 will see the industry begin to recover. We take great confidence from our financial and operational response to COVID-19, which puts us in a strong position to manage to the recovery and make the most of it when it arrives."
