NZ Herald
  • Home
  • Latest news
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather forecasts

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
    • Cooking the Books
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Companies / Airlines

Airport flags flying start to year

Grant Bradley
By Grant Bradley
Deputy Editor - Business·NZ Herald·
21 Aug, 2013 05:30 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Emirates has said it will upgrade to a third A380 in October. Photo / Dean Purcell

Emirates has said it will upgrade to a third A380 in October. Photo / Dean Purcell

Company's profit leaps 25 per cent to $177.9m, with international passenger numbers in new financial period 'very strong'

Adrian Littlewood Auckland Airport says it has made a flying start to the new financial year after profit leaped 25 per cent to $177.9 million in the past 12 months.

The company will pay a total dividend of 12c a share for the year to June 30, up 14.3 per cent on the previous year. Its shares closed up 5c at $3.30 last night.

Chief executive Adrian Littlewood said international passenger numbers in the first six weeks of the current financial year had been "very strong" with growth of 8.8 per cent on last year.

He expected 2014 underlying profit after tax (excluding any fair value changes and other one-off items) to be between $160 million and $170 million, 4.5 per cent to 11 per cent up on underlying profit for the year to June 30, 2013, of $153 million. That in turn was an improvement on the previous period of 10.6 per cent.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Littlewood said although it was early, the company had made a fast start to the year. "You get a sense that with activity in the market there's a positive mood underneath it in those growth markets," he said.

International services are the key driver of revenue and Emirates has said it will upgrade to a third A380 in October, and Malaysian Airlines, China Southern, China Airlines, Qantas and Air Tahiti Nui are adding seasonal services over summer.

"Seasonal [services] are always the first sign of confidence. Then what you do is look to make that permanent," Littlewood said.

Air New Zealand is also upgrading its international and domestic fleet.

Advertisement
Advertise with NZME.

While Indonesian airline Garuda last year said it would fly to Auckland when its fleet and market conditions allowed, Littlewood said there was no update on when that might start.

"These things have incredibly long lead times. Obviously the best opportunities are to work with existing airlines and that's where we put a lot of focus."

Revenue for the year to June rose 5.1 per cent to $448.458 million. Within that, airfield income rose 5.5 per cent to $81.5 million and property income rose 12.5 per cent to $41 million. He said there were continuing signs of a pickup the property market. Car-park income jumped by 10.2 per cent to $40.3 million by adding parks and increasing yield.

"The price of parking changes all the time, there are times of the day when we have loads of capacity so we price them to fill."

Discover more

Infrastructure report

Alliances the way to score big jobs

18 Aug 05:30 PM
Airlines

Auckland Airport boost profits 25pc

20 Aug 09:40 PM
Airlines

Auckland Airport forecasts another profit jump

20 Aug 11:15 PM
Airlines

Air NZ to axe 180 jobs

22 Aug 10:10 PM

The airport had added 350 car parks in May around the domestic terminal in an area that had been occupied by staff and and this financial year would gradually add new space near the international terminal.

Expenses increased 9.4 per cent to $117.624 million. Key expenses contributing to this higher growth include a 16.4 per cent rise in staff costs to just on $40 million, primarily due to the significant increase in the accrual of long-term incentive provisions and chief executive recruitment.

Littlewood said the incentive payments were linked to the share price movement which, from July 1, 2012, to June 30 this year, rose 21.7 per cent.

New route development and continued marketing initiatives also contributed to 15.8 per cent growth in marketing and promotional expenses to $14.1 million.

International passengers (excluding transits) grew 1.7 per cent to 7.3 million. Growth was also achieved in the domestic market with passenger numbers reaching 6.7 million, a rise of 8.4 per cent, fuelled by more capacity from Air NZ and Jetstar and a range of competitive airfares.

The total share of profit from associates totalled $9.921 million, comprising North Queensland Airports' $6.996 million, Queenstown Airport's $1.319 million and Novotel Hotel's $1.606 million.

Advertisement
Advertise with NZME.

Littlewood said the Ibis Budget hotel had a strong year with occupancy up from 60 per cent to 83 per cent and the airport was in the planning stages of increasing the number of rooms from 125 to 198 - an investment of $8 million.

Grant Swanepoel from Craigs Investment Partners said the airport had found a way to grow earnings from a regulated asset.

"They have high expectations of themselves and they keep on delivering on them."

Save

    Share this article

Latest from Airlines

Business|companies

New data show young Kiwis leading the brain drain; net migration falls below 30,000

13 May 11:45 PM
Business|companies

'Inspire the next generation': Boeing's new push in Kiwi schools

12 May 11:43 PM
World

Trump says would be ‘stupid’ to reject Qatari Air Force One gift

12 May 10:30 PM

The Hire A Hubby hero turning handyman stereotypes on their head

sponsored
Advertisement
Advertise with NZME.

Latest from Airlines

New data show young Kiwis leading the brain drain; net migration falls below 30,000

New data show young Kiwis leading the brain drain; net migration falls below 30,000

13 May 11:45 PM

A large number of young Kiwis are leaving for Australia, although the rate may have peaked

'Inspire the next generation': Boeing's new push in Kiwi schools

'Inspire the next generation': Boeing's new push in Kiwi schools

12 May 11:43 PM
Trump says would be ‘stupid’ to reject Qatari Air Force One gift

Trump says would be ‘stupid’ to reject Qatari Air Force One gift

12 May 10:30 PM
Premium
Emirates Group announces record $10.5b gross profit

Emirates Group announces record $10.5b gross profit

08 May 09:57 PM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP