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

 

Auckland Airport earnings just within regulator’s tolerance

Auckland Airport expected earnings just within regulator’s tolerance

By Paul McBeth

July 31 (BusinessDesk) - Auckland International Airport, the country’s main gateway, isn’t extracting excessive profits as its expected earnings fall just within the regulator’s tolerance.

The Commerce Commission found information disclosure regulations have had a positive influence on the airport’s behaviour and have been effective in limiting its ability to extract excessive profits, deputy chair Sue Begg said in a statement.

The antitrust regulator completed its final report on the transport hub, and found Auckland Airport’s targeted return of 8 percent per annum between 2013 and 2017 was within the commission’s acceptable band of between 7.1 percent and 8 percent.

“Auckland Airport has made a number of positive changes to its price setting approach during the short time information disclosure has been in place,” Begg said. “Auckland Airport has also improved the way it sets prices to collect revenue for different services and from different consumers.”

The regulator is required to report to the ministers of transport and commerce as soon as possible after an airport, as a regulated monopoly, sets new prices, though it isn’t tasked with making any recommendations on whether regulation should be imposed on an airport.

The commission was unable to conclude whether the information disclosure regime was effective in improving the airport’s operational expenditure efficiency, aiding efficient investment, or sharing the benefit of efficiency gains.

Auckland Airport said it is reviewing the report and will make a response later today.

The shares rose 0.5 percent to $3.095 in trading yesterday, and have gained 16 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour

Lower export prices for dairy, meat, and logs in the September 2020 quarter led to the biggest drop in terms of trade since June 2009, Stats NZ said today. Export prices fell in the September 2020 quarter, down 8.3 percent from its highest ever ... More>>

ALSO:

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO: