Wellington International Reports Strong Year

Posted 20/05/2011

Wellington International Airport in New Zealand has had a busy year that will be remembered by the successful completion of its new terminal development, The Rock, progress on initiatives to further improve the Airport’s services and facilities and good earnings growth despite a weak economy.  For the financial year ending March 31, 2011, its before interest, tax, depreciation, amortisation and fair value adjustments (EBITDAF) and excluding subvention payments were $72.3million, an increase of $4.1m from the previous 12 month period.  Total revenue was $114.7m, which was up 9.7 per cent on last year.  Aeronautical revenue increased $2.5m and retail, property and trading activities were up by $7.6m.

In October 2010, the final stage of the new terminal development was completed and is now capable of processing 1,000 international passengers per hour, with the flexibility to be used for both domestic and international services. Work has also commenced on a new corporate jet and maintenance hangar in the Western Apron area, which is expected to be open towards the end of 2011.

International passenger numbers increased by 4.5 per cent compared to last year and it was the Airport’s busiest year ever for international traffic.  Domestic passenger full year numbers were basically flat (-0.3 per cent), which was a positive result considering the departure of Pacific Blue on domestic routes in October.  Both Air New Zealand and Jetstar have subsequently phased in additional flights to and from Wellington which has helped in replacing the reduced capacity.

During the final three months of the year, the Airport was able to play a key role during the Christchurch earthquake by assisting the facilitation of commercial and military flights and the provision of space and services.  Looking forward, it says, current forecasts indicate “improved conditions for the current financial year”, with a gradual economic recovery and the Rugby World Cup 2011 expected to bolster demand and airline service.

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