Chinese New Year propels Sydney Airport sales

Sydney Airport‘s (ASX: SYD) February numbers are taking off. The company announced (link opens in PDF) today that February passenger traffic increased 2.2% year-over-year, and an estimated 5.9% accounting for leap year effects.

Inbound international traffic recorded some of the largest gains, up 7.7%. Chinese New Year helped boost Asia traffic, with significant increases from Malaysia (+69%), Hong Kong (+64%), and China (+52%).

CEO Kerrie Mather took special note of China, stating that “Mainland Chinese seat capacity for the month was extremely strong, increasing 22% on the pcp [previous corresponding period]. Overall it is pleasing to see Chinese passengers up 52% for the month and 18% year to date.” Total passenger traffic for 2013 clocked in at 6.1 million, a 3.0% increase over 2012’s numbers.

In less-than-pleasant news, February passenger traffic slowed significantly for Korea (-24%), France (-9%), the United Kingdom (-6%), and New Zealand (-3%).

Looking ahead, the company expects further increases in traffic from Emirates’ A380 upgauge service to Dubai, as well as three additional weekly Hawaiian Airlines’ flights to Honolulu.

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