Japan’s Orix reported Monday (28 October) a hefty gain in profit from its airport concession activities during the interim period ended 30 September, due to robust demand for inbound tourism.
During the for the latest six-month period, the Japanese company’s investment and operation segment posted an 14% rise in segment profit from the same period a year ago in to JPY 28.4bn (USD 261m). The gain is attributed to an increase in infrastructure concession activities in the segment, which were predominantly from airport concessions and generated a profit of JPY10.8n, showing a 57% year-on-year increase–this was partly down to a rebound in tourism after Kansai International Airport (KIX), which Orix operates with Vinci Airports, recovered from a typhoon last year and insurance payments of around JPY 3bn came in.
Orix and Vinci Airports also operate Osaka International Airport, which along with KIX, are Japan’s first big airport privatizations. Both also kicked off another concession to operate Kobe Airport in the same Kansai area in April 2018.
Kansai Airports, operated by Orix and Vinci Airports, said last week (24 October) that the number of passengers the three airports handled during the April-September period climbed 11% year-on -year to an all-time high of 26.44m.