The Australian today reported a global increase in demand for air travel, with passenger numbers on home soil up 130% over the past two decades.
It's the type of news companies like Sydney Airport Holdings Pty Ltd (ASX: SYD) have been waiting for after a volatile 12 months, with increasing pressures from low cost carriers and rising fuel costs on its list of concerns.
Sydney Airport Holdings has seen its passenger numbers grow by 28.8 million since 1990 but has been hit with the changing nature of aircraft and rising security concerns across the globe in this time.
The company's recent AGM named the rising middle class across Asia and strong economic growth in NSW as behind its growth drivers.
Sydney Airport shares were down 0.6% to $7.18 at the time of writing.
Sector household name Qantas Airways Limited (ASX: QAN) shares are also struggling at present, down 0.4% to $6.47 at the time of writing, with Transurban Group (ASX: TCL) also suffering a downturn today – down 0.8% to $11.66.
