Perth Airport announces strong FY24 profits and major expansion, Cathay Pacific boosts service to Perth

Perth Airport has reported robust profit growth for FY24 and is gearing up for a transformative $5 billion infrastructure investment, aimed at enhancing capacity and passenger comfort, and supporting Western Australia’s growing tourism and resources sectors.

Strong passenger demand across aviation, ground transport, property, and retail contributed to increased revenue, with EBITDA rising from $403.8 million in FY23 to $420.8 million in FY24 and net profit reaching $125.4 million.

CEO Jason Waters highlighted upcoming projects, including a new parallel runway, an expanded international terminal, an additional domestic terminal, and two multi-storey carparks. “The next five to ten years will redefine Perth Airport, supporting Western Australia’s growth,” Waters said. FY24 also saw significant boosts in international connections, with the addition of new routes and expanded services from airlines such as Qantas, Vietjet, and Singapore Airlines.

In line with this expansion, Cathay Pacific has increased its frequency between Perth and Hong Kong to 11 weekly flights, adding an annual capacity of 420,000 seats and supporting passenger and cargo demand. Perth Airport’s Chief Commercial & Aviation Officer, Kate Holsgrove, emphasised the importance of this added connectivity, reinforcing the growing confidence in Perth as a key destination for business, tourism, and exports.