14 May 2014

Wellington airport rated 'stable' by S&P

6:56 am on 14 May 2014

Standard & Poor's Ratings Services has lowered the outlook on Wellington International Airport's credit rating from positive to stable after reviewing the latest developments, particularly its negotiation with airlines on landing charges.

The international ratings agency rates the Wellington Airport, of which Infratil owns two-thirds, at BBB+.

Following the conclusions by the Commerce Commission that the airport might earn excessive profits over the next five years, Wellington Airport reopened its consultation with the airlines with a view to lowering its charges.

S&P says it estimates the airport's operating profit will be about 10 percent lower than it had previously expected.

Wellington International Airport.

Wellington International Airport. Photo: WIAL