Australia Toll Traffic Is Back to Pre-Covid Levels, Transurban Says
(Bloomberg) --
Transurban Group Chief Executive Officer Scott Charlton said toll-road traffic has fully rebounded in Australia and is almost at normal levels in the U.S. as businesses and consumers emerge from the pandemic.
Traffic in Australia returned to pre-Covid levels for the first time in the past two weeks, and volumes in the U.S. are just 10% below, Charlton said in an interview on Bloomberg Television Tuesday. Freight traffic is 7% higher than it was before the pandemic, he said.
“We're really pleased to see the recovery flowing through to our major cities, particularly in Australia,” he said.
Transurban operates 21 roads in Australia and North America, including Sydney's Eastern Distributor and 95 Express Lanes in Greater Washington, according to its website.
Charlton said an environment of quickening inflation is positive for Transurban's revenue in the short to medium term because the company's tolls are linked to inflation.
Weeks before Australia's federal election, Charlton said the country's most pressing need is more skilled migration to complete development and construction projects.
©2022 Bloomberg L.P.
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