"The advantage of extending the runway is the airport becomes attractive not just to trans-Tasman flights but it opens the door to Asia and unlimited possibilities."
If given the green light by council, Mr Wilson is expected to seek our potential equity investors.
Hamilton Airport's financial year began with Virgin Australia's announcement that flights to Brisbane would cease in October 2012.
Board chair John Birch said, despite the challenging year, the airport's income diversification strategy lessened the expected negative impacts.
"Obviously the loss of Virgin Australia flights had an adverse effect on this year's result. Because there has always been the risk of aeronautical revenue fluctuation, the Airport has had a long-term strategy to expand its revenue stream with diversification into the Titanium Park development and long-term leases. The income from these streams certainly lessened the impact of the lost international flights," he said.
During the financial year, Torpedo7 completed construction of its 12,000sq m warehouse on the Titanium Park Raynes Precinct and brought more than 100 employees to the new facility. Following the end of the financial year, the first site within stage one of the Titanium Park Central Precinct was sold.
In January, the Airport acquired the large aircraft hangars and other buildings occupied by Hamilton Aero Maintenance Ltd.
"These buildings are strategically important to the airport, as the main hangar can house a Boeing 737 or Airbus A320 aircraft. Hamilton Aero Maintenance will remain as the long-term lessee," said Mr Birch.
The number of domestic passenger movements during the year was 295,000, a decrease of 6.7 per cent. This was primarily the result of less demand for flights on Wellington and Christchurch routes.
The Airport's overall aircraft movements increased by 12 per cent - from 119,000 to 133,000 - predominantly due to increased airline pilot training at CTC Aviation Training.
Hamilton Airport Board is focusing on implementing its new strategic plan in the next financial year. The strategy includes the evaluation of possible options to regain international services, the improvement of domestic passenger numbers and services and a continued focused on the development and promotion of Titanium Park.