Auckland International Airport has posted a hefty lift in full year net profit on the back of increased passenger numbers and says new international services should support growth in 2014/15.
The company reported net profit of $NZ215.9 million for the 12 months to June 30 2014, up 21.3 per cent from $NZ178 million in the prior corresponding period.
Revenue rose 6.1 per cent to $NZ475.8 million, Auckland Airport said in a statement on Tuesday.
“We have seen additional airline capacity and services into Auckland, we have announced our 30-year vision for the ‘airport of the future’, and we have delivered significant improvements for passengers, retailers and property tenants,” Auckland Airport chair Sir Henry van der Heyden said in a statement.
“Strong execution of our strategic priorities has ensured we are delivering for investors and that we are strongly positioned for our future.”
As part of their alliance, Air New Zealand will bring back direct flights to Singapore, while Singapore Airlines will deploy the Airbus A380 superjumbo to Auckland over the summer period.
Moreover, China Southern will add a second daily flight over summer and LAN Chile will fly daily to Santiago from June, Auckland Airport said in a slide presentation accompanying its full year financial results.
Auckland Airport handled 15.1 million passengers in 2013/14, up 3.8 per cent from the prior year. International passengers rose 5.1 per cent to 7.7 million, while the number of domestic travellers was up 2.2 per cent to 6.9 million. There were also about half a million international transit passengers, up 5.5 per cent from a year ago.
The airport said its focus on cost efficiency led to a 1.1 per cent of operating costs per passenger.
Auckland Airport said its share of profit from its 24.99 per cent stake in Queenstown Airport and 24.55 per cent of Cairns and Mackay airports rose 17.2 per cent to $NZ11.6 million, compared with the prior year.
The airport is confident of growing revenue and earnings before interest, tax, depreciation, amortisation, fair value adjustments and investments in associates in 2014/15.
“We are confident in Auckland Airport’s ability to unlock further opportunities in the 2015 financial year,” Sir Henry said.
