Tuesday 8th July 2003
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As the company says there’s been a lot happening with itself and its investee companies which include TrustPower and Wellington Airport.
Two of the bigger news stories of recent times, the power crisis and the Government’s response, plus the proposed Air New Zealand/Qantas deal have an impact on Infratil.
In its latest newsletter Infratil says that TrustPower has announced a final fully imputed dividend of 17cps (30cps for the year), which should reflect in higher dividends paid by Infratil based on the company's policy of passing through imputation credits.
Infratil also has a 67% stake in Glasgow Prestwick International Airport (GPIA) on the Ayrshire Coast of Scotland just 35 minutes by road from Glasgow.
The airport has recently released its June traffic figures and announced that two new airlines, Bmibaby and Germania Express have started using the airport.
During June GPIA said that scheduled passenger traffic increased 27% to 137k pax for the month. However, charter traffic fell 37% to 15k pax. Total passenger traffic for the month increased by 16% to 152k, leaving the first quarter passenger numbers 18% ahead of last year at 445k.
Freight increased 11% to 3.7k tonnes, with the first quarter also 11% ahead of last year at 10.7k tonnes.
Bmibaby plans to provoke a bidding war among Glasgow's two airports after switching a service to Prestwick. The BMI no-frills airline will move its Cardiff route from the main Glasgow airport to Prestwick on July 28, but retain a Glasgow-East Midlands route.
Other news of interest is that Standard & Poor's lowered its credit rating on British Airways' long-term corporate debt to "junk" status, thus sending the airline's shares tumbling.
The airline criticised the move as unjustified. The downgrade followed the agency's review of the airline, including the effects of the Iraq war and the SARS epidemic in Asia.
To find out more about Infratil download its latest annual report here Infratil's annual report
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