Perth Airport has disclosed net profit after tax of AUD$125.4 million/US$82.5 million in FY24, an increase of +13.6% year-on-year.

The Western Australian hub reported strong revenue across its operations, including property and retail, aviation and ground transport, as it handled more than 16.1 million passengers for the period in question – its highest-ever passenger traffic haul.

Perth Airport CEO Jason Waters said: “Retail and ground transport revenue has grown while delivering a range of new product offerings for passengers including new food and beverage outlets and increased undercover parking.

“Our Property portfolio continues to record outstanding results with an occupancy rate of more than 99 per cent while delivering the new Dunreath Village shopping centre, KFC, McDonalds and an IMO carwash.”

Future decade of development

EBITDA lifted by 4.2% to $420.8million in FY24.

The update comes as the Australian hub prepares to embark on a AUD$5 billion infrastructure investment programme.

As reported in July, Perth Airport renewed and extended Avolta’s duty free contract to 2031.

“The coming five to 10 years will completely change the face of Perth Airport,” said Waters. “We have already started this transformation with work commencing on our first multi-storey carpark and significant changes to our access road network.

Perth Airport handled 4,346,344 international passengers in FY24.

“All Jetstar flights have now moved to Terminal 2, and we are progressing works to further increase capacity and passenger comfort in that terminal.

“We expect the new parallel runway project to be the next cab off the rank. This additional capacity delivered by the new runway will underpin future growth in the tourism and aviation sector.

“Design work is continuing for the expanded international terminal and the new Qantas domestic terminal. These will be complemented by our first airport hotel, with a second multi-storey car park at a later date.”

Waters points to 2024 as a year of consolidation and growth for the airport, with increased international connections coupling with the post-Covid return of a number of international airlines and higher flight numbers on several existing routes.

“This included the Qantas Perth-Paris service, Vietjet and Vietnam Airlines flights to Ho Chi Minh City, Batik Air and Citilink services to Jakarta, and Singapore Airlines and Cathay Pacific both lifting capacity into Perth,” he continued.

“We expect this to build even further in 2025. Our Operations team has done a remarkable job in managing almost 157,000 aircraft movements and more than 16.1million passengers safely and securely.”

According to the latest passenger statistics for 2024/2025 (July 2024 – June 2025), the airport served 1,256,907 international passengers in the three months through September, a 23% rise versus the same period last year.

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