Queenstown’s council will receive a $15.3 million payout from the airport this year. In a statement on Wednesday, Queenstown Airport announced a $20.4 million dividend for the past financial year. “The Queenstown Lakes District Council, as the majority shareholder, receives $15.3 million of the dividend payment, equivalent to about $470 per ratepayer, and Auckland International Airport, as the minority shareholder, receives $5.1 million,” the statement said. An interim payout of $7.22 million had been paid in February and the rest would be distributed this month, it said. A “snapshot” it presented for the financial year that ended on June 30 showed the airport took in $87.1 million in revenue as 2.82 million people moved through its terminal and 19,678 aircraft came and went. Queenstown Airport Corporation chief executive Shane O’Hare said passenger numbers reached a significant milestone in the year. “We recorded more than one million international passenger movements for the first time, highlighting the importance of Australia as a key market and reinforcing Queenstown Airport’s role as an international gateway.” Mr O’Hare said a $65 million programme of airfield improvements — incorporating the construction of a Code C heavy taxiway and a complete overlay of the main runway — had just started and would be completed by summer next year. Concept designs for a major terminal extension and upgrade were also being developed alongside continued investment in critical operational infrastructure. Construction of a two-storey office building beside Lucas Pl was also due to start, he said. Airport corporation chairman Simon Flood said this year’s annual report illustrated the “sustained momentum” at the airport. “Queenstown Airport is a critical piece of regional and national infrastructure, enabling connections between people and places, businesses and markets. The airport also influences about $1 billion in economic activity, underscoring the scale of its contribution and the importance of ensuring the airport continues to be well-planned, well-governed and well-managed for the future.” Meanwhile, the airport statement on Wednesday noted an underlying profit after tax for the year at $34 million, “demonstrating the strength of the airport’s operating performance” and its ability to pay a dividend to shareholders. The underlying profit differed from the reported profit after tax at $9.1 million, largely due to a “Lot 6 settlement” of $26.2 million. The company’s annual report notes the airport’s dispute with Remarkables Park Ltd over the amount owed for land (Lot 6) acquired under the Public Works Act. During the past financial year, the Land Valuation Tribunal determined compensation for the land at $44.5 million, of which $18.3 million had already been paid. Remarkables Park Ltd had appealed the tribunal decision, claiming it should be paid $71.2 million. The airport had “cross-appealed”. With the appeals ongoing, there was “significant uncertainty” about the final compensation payment. A date for the appeal had not been set, the report said. — Allied Media
