Transtasman passengers boost profit

Queenstown Airport profits continue to soar as a result of transtasman growth. The airport corporation reported a net profit after tax of $6.6 million in its year-end results yesterday - a rise of 25%.

Queenstown Airport Corporation board chairman John Gilks said: ''Increased passenger numbers have once again underpinned the company's strong financial performance.''

A key contributor is the month-on-month growth of the Australian market, which jumped 27.6% from 241,741 to 308,402 passengers this year.

Almost 1.25 million passengers passed through the airport over the past 12 months, with international travel accounting for 25%.

''Airline alliances, such as those between Air New Zealand and Virgin Australia, and Qantas Group and Emirates, have been instrumental in opening us up to international flying networks, giving short- and long-haul travellers better access and more flexibility to visit our region,'' Mr Gilks added.

Shareholders Queenstown Lakes District Council (75.1%) and Auckland International Airport will receive a $4.3 million total dividend.

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