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.

ENDS



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


MBIE: NZ space sector set to star in Moon mission
The New Zealand space sector is set to star in NASA’s CAPSTONE moon mission – with Rocket Lab launching a satellite to the Moon from New Zealand in June, and the lift-off of a separate NASA-NZ lunar research project... More>>



Air New Zealand: Relaunching 14 International Routes In 16 Days

Air New Zealand is gearing up for the busiest July in two years with the relaunch of 14 international routes in 16 days... More>>



Inland Revenue: Update On Hidden Economy Real Estate Campaign

The Inland Revenue campaign focussing on the real estate sector has resulted in a drop in the amount of private expenses claims being made... More>>


Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>

BusinessNZ: NZ Economy - Prevailing Headwinds
The latest BusinessNZ Planning Forecast reveals business and consumer confidence is low, with factors at home and abroad hampering our recovery... More>>


Specialist Cheesemakers Assn: Shared Cheese Heritage Should Be Shared Not Stripped

As the EU-New Zealand FTA advances New Zealand cheesemakers are urging both Governments to recognise and celebrate the shared cheesemaking heritage that exists between European countries and New Zealand... More>>