July is the peak month at Cairns Airport and while 407,364 domestic passengers was 27% higher than June it was -4% lower than the previous July 2018. International remained positive up 2% for a combined total negative -3.2%. This continues the run of negative monthly growth:
You have to go back to post GFC 2010 to find a comparable period of sustained negative numbers with rolling annual growth now down -3.2%.
Sydney Airport numbers for July were also negative with domestic down -0.7% and more importantly from our perspective international down -2.2% at the largest gateway. Commentary from Sydney was “The market continues to be subdued”.