A 14.7 percent rise in first half earnings to AUD$245.7 million (USD$187.75 million) has been reported by Sydney Airport.

The airport's owners, Southern Cross, said that revenues for the period to December 31, 2004 grew by 13 percent over the first half of the previous fiscal year.

The Improved results highlighted the benefits of passenger traffic growth including new airline services, improved yields from commercial initiatives and increased property revenues. Southern Cross also saw a fall in operating costs after cutting its work force and improving efficiency.

In the week that the world's largest civil aircraft, the Airbus A380, was unveiled, Sydney awarded contracts jointly worth AUD$54 million to two companies who will help prepare the airport for the superjumbo. The estimated total cost of making the airport ready for the giant planes is AUD$100 million (USD$76.4 million).