Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Hamilton International Airport Reports Tax Surplus

Monday,October 20, 2008.

News Release

Hamilton International Airport Reports
$3.89 Million After Tax Surplus.

Hamilton International Airport today reported an after-tax surplus of $3.8 million for its latest financial year.

The surplus to June 30, 2008, is up from last year’s $2.7 million and achieved from operating revenues of $7.13 million, compared to $5.96 million previously.

Chairman of airport owner Waikato Regional Airport Limited, Jerry Rickman, said total assets had reached $85.2 million, including current year revaluations of $21.85 million.

Reporting to the annual meeting, Mr Rickman said the company had reduced debt during the year from $21.2 million to $17.9 million from the proceeds of non-strategic land sales.

Revenue had increased over all key revenue lines with the exception of concession income from the duty free store.

Mr Rickman said landing charges were up 33 percent to $1.7 million, car park revenue up 2.9 percent to $1.5 million, with rental income up almost 36 percent to $1.3 million.

Departure fees were up 13 percent to $1.56 million.

The airport achieved record aircraft movements for the year at 148,000, up 24 percent on 2007.

Since 2003 aircraft movements had increased 164 percent, and in the last two years by 69 percent.

Aircraft movements from the CTC Aviation Training Facility had contributed significantly to the increase and are predicted to rise further in the coming year.

However, continued growth in domestic passengers had been offset by a reduction in international passengers.

Company chief executive, Chris Doak, said these changes had been driven by Air New Zealand increasing domestic flights while reducing its international schedule.

Domestic passenger numbers grew 4.6 percent, while the loss of international flights to both Melbourne and Fiji resulted in a 15.8 percent reduction from 104,000 to 87,000.

Air New Zealand had taken over Freedom Air’s international operations in March with the introduction of full service trans-Tasman flights.

International passengers numbers for the Sydney, the Gold Coast and Brisbane routes were down 4 percent for the year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>