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Sydney Airport Holdings Limited (ASX:SYD) is the busiest and worst performing airport in Australia, according to the consumer watchdog.
In its latest Airport Monitoring Report the Australian Competition and Consumer Commission found on-time flights decreased over the last decade, and warned that congestion will increase without extra investment.
For the first time since 2008, no airport was rated good or better, despite passenger numbers and revenues rising at every airport except Adelaide.
ACCC chairman Rod Sims says Sydney Airport, which received 36 million passengers, was both the busiest and lowest-rated airport in 2011-12.
But Sydney Airport says the report found passenger satisfaction was at a 10-year-high and added it had invested more than $2 billion in infrastructure in the past decade.
Sydney Airport Holdings generated a net profit of $158.1 million for its 2012 financial year.
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