Why is the Sydney Airport (ASX:SYD) share price in focus this week?

Market watchers are keeping a close eye on Sydney Airport shares as the federal government prepares to issue ‘vaccine passports’
The post Why is the Sydney Airport (ASX:SYD) share price in focus this week? appeared first on The Motley Fool Australia. –

The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has been the talk of the town this week amid preparations to open Australia’s international borders.

The federal government is reportedly working on a ‘vaccine passport’ system to prove the vaccination status of Australians travelling internationally.

While the news isn’t directly related to the Sydney Airport, its shareholders are likely excited by the step towards the resumption of international travel.  

Right now, the Sydney Airport share price is $7.95, 0.44% lower than its previous close.

Let’s take a closer look at what’s got some market watchers talking about Sydney Airport.

Sydney Airport in the spotlight amid vaccine passport news

The Sydney Airport share price might soon see an upswing as Australia begins implementing strategies to keep travellers safe once its international borders open.

According to reporting by the Guardian, trade minister Dan Tehan told journalists Australia will have a system to recognise a person’s vaccination status up and running within weeks.

The system is expected to be put into use when 80% of Australians over the age of 16 are fully vaccinated against COVID-19.

The Sydney Airport share price has been taking off lately. Its gains were potentially spurred by news Qantas Airways Limited (ASX:QAN) is planning to restart international flights in December.

In 2019, approximately 16.8 million international travellers passed through Sydney Airport.

Tehan reportedly said the government is developing a QR code system with the International Civil Aviation Organisation. The system would see Australians’ vaccination status recognised internationally.

Qantas is also helping to create an internationally recognised ‘health pass’. The health pass is being developed by the International Air Transport Association. It is expected to align a traveller’s vaccination status and recent COVID-19 test results to individual nations’ entry requirements.

Sydney Airport share price snapshot

Right now, Sydney Airport’s shares are 24% higher than they were at the start of 2021. They’ve also gained 45% since this time last year.

The post Why is the Sydney Airport (ASX:SYD) share price in focus this week? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Sydney Airport right now?

Before you consider Sydney Airport, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sydney Airport wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

How have ASX travel shares performed during the August 2021 earnings season?

The Sydney Airport (ASX:SYD) share price has gained 37% in the last 6 months
Transurban (ASX:TCL) share price could get boost from WestConnex rumour
Why some investors may be hoping the Sydney Airport (ASX:SYD) share price falls
When was the worst ever day on the Sydney Airport (ASX:SYD) share price chart?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!