Australian airports 'make a killing' from car parking
BTN News
Wednesday, 23 March 2016
Australia's major airports make a fortune from car parking, according to the Australian Consumer and Competition Commission (ACCC), which has blamed a “lack of competitive pressure” for the profit margins. Sydney and Melbourne parking margins were around 70 per cent, it said.
An ACCC report also found airports were charging record mark-ups for air services, taking advantage of their “unconstrained monopoly” to boost profits while letting service quality slip.
More than 50 per cent of charges levied by Sydney airport in the past financial year for the use of its runways, taxiways and parking bays was profit, according to the report.
“All monitored airports have seen their earnings increase in real terms of the past decade, while quality of service outcomes have declined slightly,” ACCC said.
Australian airports 'make a killing' from car parking
BTN News
Wednesday, 23 March 2016
Australia's major airports make a fortune from car parking, according to the Australian Consumer and Competition Commission (ACCC), which has blamed a “lack of competitive pressure” for the profit margins. Sydney and Melbourne parking margins were around 70 per cent, it said.
An ACCC report also found airports were charging record mark-ups for air services, taking advantage of their “unconstrained monopoly” to boost profits while letting service quality slip.
More than 50 per cent of charges levied by Sydney airport in the past financial year for the use of its runways, taxiways and parking bays was profit, according to the report.
“All monitored airports have seen their earnings increase in real terms of the past decade, while quality of service outcomes have declined slightly,” ACCC said.
