Australia’s consumer watchdog the ACCC is rebuking the country’s major airports – particular those in Sydney and Melbourne – over the prices charged for airport parking, resulting in exorbitant profit margins at the expense of value for travellers.
In its latest Airport Monitoring Report 2014-15, the ACCC identifies Melbourne Airport as the worst offender with owner Australia Pacific Airports (Melbourne) Pty Ltd booking 73.2 cents in the dollar from parking revenue as pure profit.
That represents a mark-up of over 270% on the actual costs of building, running and maintaining the parking facilities, with Sydney Airport not far behind in converting 71.6 cents from every parking dollar earned into profit.
Brisbane and Perth Airports also enjoyed generous margins on airport parking of 67.2% and 63.7% respectively, which the ACCC attributed to a “lack of competitive pressure” from other providers.
While booking a car space online can sometimes avoid paying the full sticker price, the ACCC also found that the best savings were typically had when parking for longer durations, rather than shorter stays which weren’t as discounted.
“The ACCC found that consumers parking at the airports could save up to 66.5 per cent for longer durations by booking online,” said ACCC Chairman Rod Sims.
“Consumers should consider all of their options, including whether they could obtain a cheaper rate by booking online or using an off-airport parking operator,” Sims added.
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