Auckland Airport profit slips to $309m, passenger numbers up
The airport said the second half of the year saw airlines reduce capacity in response to high fuel prices, while consumers became more cautious.
Auckland Airport's profits declined to $309 million for the year ending June, while passenger numbers rose slightly. The airport remains optimistic about the future despite the Middle East conflict and high fuel prices. Key figures for the past year show a 20 percent drop in profit, but preferred underlying profit was flat at $309 million.
Airline capacity reduced in the second half due to high fuel costs, resulting in a 6 percent decrease in seat capacity from planned levels. International passenger numbers increased by 1.6 percent to 10.5 million, while domestic numbers rose 1.7 percent to 8.6 million. Despite the challenges, Auckland Airport continues to invest in its infrastructure, with capital expenditures of $1 billion to $1.3 billion expected in the next year.
The airport is in the peak investment phase of the aeronautical infrastructure development program and will work to minimize disruption during the intensive phase of the build inside the international terminal.
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