Subscribe to RSSBrisbane Airport Rail Profit
Brisbane’s privately run airport rail service has posted a 35% increase in profit.
It made $10.01m in the last financial year - which is more than $13m.
The company has announced it has paid back all its debt 10 years ahead of schedule.
This year’s result also means it will increase its dividend by 10% to $3.59.
Passengers pay nearly $19 but anyone 14 years and under goes free.
1.8 million passengers used the service in the last financial year - up 5%.
But the result has increased demands for the service to be extended as the last city-bound service departs the domestic terminal at 8pm. The company insists there aren’t enough airline passengers after then to justify later trains and there are no plans to do so for at least the next 18 months.
The company gets no subsidy from the government and cost AU$220m to set up.
And they say it won’t work here?
9 Comments
Again proof that another airport rail service makes a financial profit on top of community and environmental benefits.
Joyce and John Key will hate this news.
Yes good news, but…
After the 8pm cut-off no service, the difference between a privately run service and publicly run. They are only after the cream. Sure they have to make a buck to stay in business.
Gee $19 is abit steep!
I hope they would have a price for regular commuters who work at the airport. But its still a lot cheaper than a taxi
I agree with a privately run service to the airport if the government will not fund it.Brisbane has shown it can work although on reduced hours and relatively expensive fares to make such a profit.I wonder if any private company would consider such a venture in Auckland ?
The brisbane one cost only $200 million while an Auckland one would cost 4 times that.
Also the Brisbane one only runs at 30min intervals which is hopeless, would be easier to catch the airbus.
Aucklands airport line serves a whole new area of the city - Mangere. So needs to be operated as part of the network, therefore no $19 fares.
Not sure why we should give in to people like National and Act with their “Rail has to pay its way, we are already paying the roads bill from taxes” strategy. So while this is a good argument, it also detracts from the real issue: Rail is good even if it “loses” money.
Heck, even FREE rail would be a massive economic benefit for this country. Free roads do.
Auckland Airport is a business that currently makes a tidy profit from car parks. They could make a decent profit from this as well, and it would help kill the argument for an airport at Whenuapai (i.e. kill a potential competitor). They now must be looking closely at funding a rail link themselves. The downside for the traveling public will be higher fares, and airport trips will be unlikely to be covered by any integrated travel pass. On the upside, no more traffic hassles and better convenience.
@Luke. The fares for the suburban stations at Mangere would be the same as for the rest of the network, but they would probably charge more to board or alight the train at the airport stations. Airport travellers will pay more, as the alternatives are expensive parking or expensive taxi ride or expensive bus. Sydney’s airport line has a surcharge to use the airport stations, while the line itself serves a wider area - similar to what Auckland’s will be like.
While it did “cost 220m to set up” it also required a debt write off of around $100M AUD in 2004, along with racking up another $100m in losses until the debt was written down,
It also has the situation of the private airport company allowing only it and the private “coach-trans” bus company as the only non-taxi operators for travel from Brisbane to the Airport.
This set-up should make money as it has the punters by the Short and curlies, andwould probably cause outrage if it was implemented in Auckland