ACCC suggests airport regulation, says flyers pay up to $1.6b in extra fees due to privatisations
Originally published: March 5, 2017
Airlines and their passengers have paid up to $1.6 billion too much for airport access over the past decade due to a textbook example of how not to privatise monopoly assets, the competition regulator said.
The Australian Competition and Consumer Commission's (ACCC) latest report into Australia's four biggest airports - Sydney, Melbourne, Brisbane and Perth - found that profit margins eased slightly for three of the operators last financial year.
However, Brisbane Airport's profit margin increased to 44.9 per cent, and Sydney Airport's 46.7 per cent profit margin would be amongst the highest in corporate Australia.
The airports have dramatically increased revenue per passenger over the past decade, with Brisbane charges up by two-thirds, Perth 43 per cent, Melbourne almost a third and Sydney up 16 per cent.
Read the rest at ABC.