Thursday 30th October 2008
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Net income may be towards the bottom of its $100 million to $110 million estimate in the year ending June 30, down from $113 million last year, the company said in a statement.
The company "is not immune to the heightened effects of a global recession," Chairman Tony Frankham said in a statement for the airport's annual shareholders' meeting.
"The current environment could well see a reduction, in the near term, in international passenger volumes."
The airport company has been buffered from a global downturn by increased competition on key routes across the Tasman Sea from Virgin Blue's Pacific Blue unit and increased flights by Qantas's Jetstar. International volumes fell 1.8% to 1.5 million in the first quarter, while domestic passenger movements gained 8.7% to 1.4 million.
Profit in the first quarter rose 1.6% to $24.2 million as sales gained 5.5% to $87.2 million.
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