Queenstown Airport reported a total dividend of $3.6
million for the year ended June 30, 2013, equating to about
$122 per Queenstown Lakes District rateable property.
Airport Corporation chairman John Gilks said 75% of that -
$2.6 million - was payable to the Queenstown Lakes District
Council, with the remaining $1 million payable to Auckland
International Airport Ltd, which purchased a 24.99%
shareholding in the airport for $27.7 million in 2010.
The relationship between Queenstown Airport and Auckland
Airport, its strategic alliance partner, continued to be
''constructive and beneficial'', he said.
''As a larger airport Auckland has much more depth in
knowledge and resources than Queenstown and has proven itself
very willing and able to share these resources with
''The board is happy to report that the alliance is
delivering benefits exceeding initial expectations.''
Mr Gilks said the airport had continued to build steadily on
the successes of the past two years, earning a net profit
after tax of $5.3 million for the year, driven by continued
growth in passenger numbers and ''prudent management of
''As in previous years, the company's solid performance is
based on strong passenger numbers.
''The airport hosted 1,198,918 passengers, 14.5% more than in
the previous financial year, reflecting increases in both
domestic and international numbers.
''This increase in passenger numbers underpinned a 7.7%
increase in revenue from $18.2 million to $19.6 million.''
Earnings before interest, tax, depreciation and amortisation
(ebitda) was strong at $12.9 million, compared with $11.5
million in the previous financial period.
The resort's appeal as a destination remained strong with Air
New Zealand, Jetstar, Qantas and Virgin Australia increasing
their capacity, Mr Gilks said.
Queenstown Airport completed several key infrastructure
projects throughout the financial year, including larger
international departure facilities and a bigger Air New
Zealand Koru Club Lounge, while on the commercial front it
completed a new rental car concourse and the first stage of a
retail redevelopment, including expanded international duty
''Queenstown continues to be viewed as a desirable
destination by both domestic and international travellers.
''This fact underpins the directors' expectation that growth
in passenger numbers will continue in the future, albeit at a
rate which may not achieve the levels experienced in recent
years,'' Mr Gilks said.