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

 


Wellington Airport results for six months ended 30 September

Wellington Airport results for the six months ended 30 September 2013

8 November 2013

Wellington International Airport Limited (WIAL) is pleased to present its unaudited results for the six months ended 30 September 2013 which produced a solid performance with an underlying EBITDAF of $42.5m before subvention payments.

Wellington Airport continues its focus on route development and collaborating with its airline partners to promote the opportunity that Wellington presents. This work has seen capacity increases over the last 12 months delivering strong passenger growth with a domestic increase of 5.9% and international of 5%. Following the increases in capacity, the airport expects modest growth in the next six months.

“While there have been reductions on certain routes, working together with our airline partners has delivered new capacity and we look forward to furthering our role and contribution towards the growth of New Zealand’s travel and tourism industry,” said Steve Sanderson, Wellington Airport’s Chief Executive.

“The total number of passengers is expected to reach around 5.4 million by the end of the year and we have made significant investment in our experience for everyone arriving into and departing Wellington including new retail outlets, upgraded washrooms, a beachfront café and improved drop-off and parking areas.”

“While the half year result reflects good growth in passenger numbers and services it also reflects an on-going focus on efficiency and the airport remains one of the most efficient in Australasia.”

Mr Sanderson said $250m is forecast to be invested over the next five years in travel and tourism infrastructure to maintain and improve the passenger experience. This includes a major expansion of the Main Terminal Building, a new hotel, multi-level car park facility and noise insulation programme for neighbouring residents. Wellington Airport opened a new retail bond offer on 24 October 2013, which was extremely successful with applications accepted up to the maximum of $75 million.

In July 2013, Wellington Airport released its 2013 annual performance results to the Commerce Commission and, with a return on its aeronautical assets of 6.23%, remains under the Commission’s benchmark of 8% for the third year in a row. The airport has started consultation with airlines over the charges to use the airport’s terminal and runway services from mid-2014 to ensure that future prices, beyond 2014/15, are also in line with the Commission’s acceptable range.

“During Wellington’s local government elections there was a very strong show of support from the region and the majority of successful candidates for the need to have direct air connections with Asia. We are looking forward to consulting with stakeholders, airlines, civic partners, our local community, businesses and the region as the work towards the consent for the runway extension progresses next year.”

The initial economic study for the runway extension presented significant benefits for the region and justified commencing the consent process. However the airport is conducting a further economic impact study regarding the net benefits for the Wellington region and New Zealand Inc. This study will inform the full business case to be presented and consulted on in 2014.

This year was the 10th anniversary of the Wellington Airport Regional Community Awards and it was a privilege to support and recognise the volunteer organisations that contribute so much to the Wellington Region. In February next year Wellington welcomes the World for the New Zealand Festival and the airport is proud to be a leader partner.

“We would also like to recognise the outstanding contribution of our Chairman, David Newman, who passed away in October. David was a board member of the airport since Infratil acquired an interest in 1998 and he became Chairman in 2004. He really believed in the people who work at the airport and gave them his full support and leadership which will be missed by all.”

Wellington Airport also wants to thank Ian McKinnon for his support and guidance as a board member when he was Deputy Mayor of Wellington City. Mr McKinnon was on the board for three years and resigned in October after deciding not to stand for re-election.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

The Price Of Cheese: Cheddar At Eight-Year Low

Food prices decreased 0.5 percent in the year to June 2016, influenced by lower grocery food prices (down 2.3 percent), Statistics New Zealand said today. Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent. More>>

ALSO:

Financial Advisers: New 'Customer-First' Obligations

Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news