18 December 2009
Auckland International Airport Limited (Auckland Airport) announced today that its market guidance for net profit after tax for the 2010 financial year is at the high end of the previously announced range of approximately $93m to $100m.
This is in line with the consensus view of analysts forecasting Auckland Airport’s financial results for the 2010 financial year.
The update in guidance primarily reflects an improvement in recent passenger volumes. Total international and domestic passenger numbers for the first five months of the 2010 financial year have been ahead of Auckland Airport’s previous planning assumptions, and improved passenger volumes have now occurred consistently over the last three consecutive months, providing more confidence in the sustainability of the improvement.
While the volume increase has positively impacted the year to date financial results compared to planning forecasts, those benefits have been partially offset by landing charges running lower than originally assumed as airlines have reduced the average size of aircraft.
As always, this guidance is subject to any other material adverse events, significant one-off expenses, non-cash fair value changes to property, a reversal of improving global market conditions, or any other unforeseen circumstances.
Auckland Airport holds charges for a further two months
In July 2009, Auckland Airport deferred scheduled increases to its aeronautical charges in recognition of the challenging economic conditions prevailing at the time.
As foreshadowed in July, Auckland Airport has undertaken a further review of its pricing arrangements. Although there are encouraging signals of returning stability and confidence in the aviation sector, as indicated by recent passenger volume improvements, it has been decided to hold charges at their current levels for a further two months. The aeronautical charges will therefore revert to the 2009/10 pricing schedule from 1 March 2010.
For further information, please contact:
Senior communications manager
+64 (0) 9 255 9089
+64 (0) 27 477 6120