Auckland Airport posts profit boost

By Graeme Kennedy

Friday 23rd November 2001

Passenger arrivals at Auckland International Airport slumped last month in line with a general 3% downturn in visitor numbers after the September 11 terrorist attacks in the US and the collapse of Ansett Australia.

But the company reported a 15.4% lift in profits to $21 million for the first four months of the financial year to October 31 on revenues up almost 10% to $65.5 million, with international passengers for the period up 6.7% to 1.55 million and domestic 6.1% higher at 1.1 million. The four-month result was 15.4% above the same period last year.

Chairman Wayne Boyd told the AIAL annual meeting that although passenger numbers for October were below those of the same month last year he expected higher six-month and full-year profits.

"We believe that perhaps the downturn in passenger traffic will not be as significant as some people originally thought and we remain confident we can achieve another record year for the company," he said. AIAL last year posted a $59.1 million profit.

But Mr Boyd said a clear picture of second-half performance would not emerge until after the November-to-March peak tourist season.

Meanwhile, Statistics New Zealand said visitor arrivals were up 11% to 1.93 million in the year ended October, with major increases from Australia, the UK, Korea and China.

However, numbers fell 3% for the month to 142,000, with 20% fewer Americans and Japanese and 31% fewer from Thailand.

And 8% fewer New Zealanders travelled overseas during October, with the biggest falls including 33% to the US and 24% to the UK.

European Union Transport Commissioner Loyola de Palacio yesterday forecast a 90% increase in long-term demand for air travel by 2010 despite passengers' current lack of confidence.

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