BAC reports solid results for 2011 despite challenging year
Brisbane Airport Corporation Pty Limited (BAC) today reported a net profit, before tax, un-realised gains and shareholder distributions, of $148 million, up from $142 million last year, reinforcing the company’s stability during a year that has seen world and local turmoil significantly impact travel and tourism numbers.
International passengers of 4.2 million were up 3.6% on FY10 while domestic passengers of 15.8 million were up 6%. The airport also recorded more than 20 million passengers in total through the terminals – a record despite challenging times – continuing the strong and sustained role the airport is playing in generating jobs, investment and opportunity for Queensland.
BAC CEO and Managing Director, Julieanne Alroe, said the solid result for FY11 more than exceeded expectations especially given the industry as a whole had been greatly impacted by a number of local and global disasters.
“We saw positive, substantial and stable growth in passenger numbers across both domestic and international markets in the first six months of FY11, with much of this growth a result of additional capacity and new services introduced by our airline partners.
“While the second half of the year was marred with floods, earthquakes, tsunamis and ash clouds, Brisbane Airport remained open and fully operational demonstrating the reliability and durability of our critical infrastructure.
“I see this as a promising sign that Brisbane Airport, like Queensland, has shown it can withstand incredibly difficult challenges,” Ms Alroe said.
Other significant developments and achievements throughout FY11 include:
- The opening of Australia’s first Airport Experience Centre;
- AUD$600 million debt raising in the USA and Australian bond markets;
- The opening of Brisbane Airport’s upgraded and expanded $43 million Common User Satellite at the Domestic Terminal;
- The injection of 1.4 million seats by various airlines, underpinned by a strong demand for seats from the business sector; and
- A record of more than 400,000 international passengers in one month and over 16,000 international passengers in one day.
To keep up with growing demand, BAC continues to roll out a multi-million dollar infrastructure program including a $120 million terminal apron expansion project at the International and Domestic Terminals.
“The construction at the International Terminal will consist of approximately 65,000m² of aircraft pavement to provide two extra bays suitable to accommodate A380 aircraft, as well as new taxiways to improve airfield operations.
“An additional 75,000m² of aircraft pavement will also provide eight more bays - suitable for 737 aircraft – at the Domestic Terminal, further boosting our capacity to service future regional growth,” Ms Alroe said.
The opening of the new Common User Satellite this year was the first part of a much larger upgrade to the Domestic Terminal precinct, which is still currently underway.
Construction of the Domestic Terminal’s new nine storey multi-level car park continues and, when complete, will provide more than 5,300 undercover car spaces.
Upgrades to the road network, including a free public pick-up area and an undercover, elevated walkway over the terminal roads, will also provide significant additional capacity to the road network and car parking facilities, reducing congestion in the precinct and improving the passenger experience overall.
Planning and design has been underway as well this year as BAC completes its final preparatory stages before embarking on early works for the delivery of the New Parallel Runway.
With 43 million passengers expected to be travelling through the airport by 2028, Brisbane Airport must upgrade its runway system as well as terminals, roads and other aeronautical facilities to meet this demand.