JAPAN. A strong passenger traffic recovery drove Kansai Airports’ much-improved non-aeronautical revenues for the half year ended 30 September, which reached ¥48.1 billion (US$331 million). That represents a steep increase of +104% year-on-year, recovering to about 70% of pre-pandemic 2019 levels.
The group operates three airports: Kansai International Airport (KIX), which opened its expanded commercial space at the Terminal 1 airside zone on 5 December; Osaka International (Itami); and Kobe.
Passenger traffic rose +96.% year-on-year to 20.98 million. The number of international passengers at Kansai International Airport reached 8.40 million, an upsurge of +1,310%.
Revenues from retail and food & beverage for the April to September period were up by +430% year-on-year over a very low, pandemic-hit base, representing an encouraging 82% of pre-COVID levels.
Duty free revenues soared by +1,137% from the same period in 2022. However they still represented just 47% of 2019 income.
Passenger traffic showed an encouraging rebound after the huge challenges posed by the pandemic {Charts courtesy of Kansai Airports, click on graphics to expand)
Aeronautical revenues reached ¥37.3 billion (US$257 million), jumping by +111% year-on-year.
Total revenues for the April to September period reached ¥85.4 billion (US$585.3 million), a year-on-year rise of +107%.
Total aircraft movements at the three airports reached 167,000, up by +27% from the same six-month period in 2022.
EBITDA spiked to ¥35 billion (US$240.4 million), a steep rise of +264% year-on-year.
Operating profit amounted to ¥13 billion (US$89.2 million), while ordinary profit reached ¥7.8 billion (US$53.5 million) and net profit was ¥5.2 billion (US$35.7 million).
The airport company noted the positive impact of continued cost reductions, helping drive a return to profitability for the first time in four interim periods. ✈
