THE “unconstrained monopolies” of Australia’s four main privatised airports remains a key concern of the national competition watchdog, which has highlighted their rising profits and high charges for services including parking.
In its annual airport monitoring report released today, the Australian Competition and Consumer Commission (ACCC) has also warned it is vital to avoid restrictions on Sydney’s planned Badgerys Creek gateway, so that it can operate without the curfew and hourly aircraft movement limits that constrain the city’s existing facility.
The ACCC says Brisbane, Melbourne, Perth and Sydney airports earned a combined $757.6 million in operating profits (EBITA) in 2016-17, up 9.9% on the previous year, with SYD alone earning $360.8 million.
“We remain concerned that the current regulatory regime… doesn’t constrain the market power of four of Australia’s major airports,” ACCC chairman Rod Sims said.
“Unconstrained monopolies often have an incentive and ability to charge excessive prices while lacking strong incentives to improve services,” he said.
Profits per passenger had also risen, which Sims said was reflected in passengers paying higher ticket prices.
CLICK HERE for the full report.
Source: Travel Australia