READ PROF. SAMUEL'S SPEECH
Australia’s airports are earning excessive profits and need to be regulated, Chairman of Airlines for Australia and New Zealand (A4NZ) Professor Graeme Samuel AC told a Press Club lunch on 25 May.
Professor Samuels was speaking the day after the launch of a report commissioned by the airline alliance which found that Australia’s four major airports are among the top six in the world for profit margins and are collecting 25% more revenue for every passenger today than they were a decade ago.
The gouging of customers and airlines by the airports comes as no surprise to the former competition watchdog chief, he said.
“Monopolists always use and abuse their market power. They have no incentive to do otherwise,” Samuels said.
The release of the report, ‘The Performance & Impact of Australia’s Airports since Privatisation’ comes ahead of an inquiry into airport regulation by the Productivity Commission.