The date and location of a second airport for Sydney needs to be decided now, the International Air Transport Association (IATA) boss said yesterday.

Arriving in the middle of Australia’s “government uncertainty”, IATA Director General Giovanni Bisignani issued a warning to the new government advising them to take urgent action after half a decade of studies on the issue.

"The clock is ticking," he told the National Aviation Press Club in Sydney, before heading to a meeting with Labor Minister for Transport Anthony Albanese.

“Even 20 years is a tight timeline,” he said.

“Kingsford Smith will reach a point where it will not be able to handle Sydney's needs.

“Whether you believe that will happen in 10 years or in 20 years, a decision on the next airport is now critical,” he said, highlighting the urgency of the issue due to its associated road and transport infrastructure.

A spokesperson from Mr Albanese’s office told e-Travel Blackboard that a taskforce set up to “develop a strategic plan for meeting the future aviation needs for the Sydney region” was due to announce its results in 2011, but is dependent on the outcome of the recent election.

“Should the Liberal Party come to power it's likely the issue will be put on the back burner…the Liberal Party think Sydney Airport will be fine for another 30 years,” they said.

The IATA boss also slammed Sydney Airport’s charges given the recent state of the aviation industry.

According to Mr Bisginani, Sydney Airport's earnings jumped 82 per cent last year, while airlines lost $10 billion.

Mr Bisignani pointed to a report that ranked Sydney’s airport as the 9th most expensive airport in the world last year, jumping from 34th place in 2000.

"Logically airlines and airports should be profitable, but airports are also monopolies that must be effectively regulated," Mr Bisignani said, supporting a decision by the Labor government to instate a Productivity Commission review of airport regulation.

Mr Bisignani’s statements coincided with the MAp Group, the majority owner of Sydney Airport, announcement of an 18 per cent increase in earnings to $205 million for the year to June.