NEW ZEALAND/AOTEAROA. Retail and trading activities at Wellington Airport, gateway to the nation’s capital, rose +12.2% year-on-year to NZ$61.39 million (US$36.5 million) for the year ended 31 March.
This easily outstripped a +4% international passenger increase to 823,000 and a -5.9% fall in domestic passengers to 4,260,832.
Overall revenues were up +4.9% year-on-year.
EBITDAF (Earnings Before Interest, Tax, Depreciation, Amortisation, and Fair value adjustments) increased +2.5% year-on-year to to NZ$133.4 million (US$79.4 million). Net profit declined -39.1% year-on-year to NZ$15.7 million (US$9.3 million).
The strong retail performance comes as Wellington Airport’s NZ$20 million (US$11.9 million) overhaul of its retail and hospitality precinct nears completion, delivering a significant upgrade to passenger dining and shopping options and enhancing the overall customer experience.
Wellington Airport Chief Executive Matt Clarke said, “It’s been a year of delivery for Wellington Airport with significant upgrades completed to our runway and terminal.
“The EMAS runway system is an important safety project that also opens opportunities to connect Wellington directly to long-haul destinations.
“We’ve completed our new Airport Fire Station and the terminal has a stunning new look with the Manu Muramura centrepiece and the multi-level venue Good Day.
“The financial results are pleasing and reflect a strong year of performance, particularly from the commercial side of the business. This has been achieved despite pressure on regional connectivity and Air New Zealand’s well-known fleet availability issues.
“We’ve kept a focus on controlling costs and have worked closely with our airline partners on the timing of infrastructure projects. This has put us in a solid position to manage the current challenges facing the aviation industry and the wider economy.” ✈
