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


Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>


Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>


Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>


MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>


NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>


Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>