19 Sep 2014

Airport's earnings rise by nearly 12%

7:41 am on 19 September 2014

Christchurch International Airport's annual net profit fell nearly 15 percent to $15.7 million, reflecting tax adjustments.

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Christchurch Airport's growth may reflect the city's recovery from the 2011 earthquakes. Photo: PHOTO NZ

At the operating level, profit rose nearly 12 percent to $72.5 million on a 10 percent sales increase to $130.7 million.

The airport, which is 75 percent owned by the Christchurch City Council and 25 percent owned by the Government, saw passenger numbers through the airport rise 3.5 percent, with growth in the second-half accelerating to 5 percent.

Christchurch Airport chief executive Malcolm Johns said much of the growth reflects Christchurch's recovery from the devastating 2011 earthquakes.

"Passenger numbers into here returned to growth this year for the first real year since the earthquakes. They were driven both by increases on domestic main trunk routes and also growth returning to long haul markets like the UK, Europe, Thailand, those sorts of places."

The airport will pay its shareholders $7.6 million in dividends, 3.7 percent more than last year.

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