The number of passengers passing through Sydney Airport crashed more than 96 per cent in the first half of April as travel restrictions to combat the coronavirus pandemic put the brakes on air travel.

The airport on Monday said it had raised $850 million in fresh short-term debt to increase liquidity and see it through the health crisis, which analysts said removed the risk of an equity raising.

An international traveller arrives at Sydney Airport last month. Traffic has nosedived due to the pandemic. Credit:AAP

Sydney Airport revealed domestic passengers fell 97.4 per cent and international passengers fell 96.1 per cent in the first 16 days of April. Total traffic was down 45 per cent for March, when travel restrictions started to take hold.

The airport said it expected traffic to stay at a similar level for as long travel restrictions remained in place. The ASX-listed group said it would not pay shareholders a dividend for the half year ending June.