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Home / New Zealand

Wellington Airport returns to profit in latest financial results

Georgina Campbell
By Georgina Campbell
Senior Multimedia Journalist·NZ Herald·
16 May, 2022 06:00 AM3 mins to read

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Wellington Airport. Photo / Bevan Conley

Wellington Airport. Photo / Bevan Conley

Wellington Airport's latest financial results show the company has returned to profit despite a "rollercoaster" 12 months for the aviation sector.

This year's annual review and financial results paint a picture of recovery.

The airport made an after-tax profit of $3 million for the year ended March 31.

This compares with a net loss after taxation of $35.7m for the year ended March 31, 2021, after the airport's passenger numbers plummeted to just 1 per cent of usual levels due to the Covid-19 pandemic.

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Wellington Airport chief executive Matt Clarke said it was pleasing to end this most recent year on a positive note, with the reopening of international borders and full flights connecting travellers.

He described the past 12 months as a rollercoaster.

Domestically, the airport reached a high of 93 per cent of pre-Covid travel in July 2021, but due to another nationwide lockdown this number dropped back to 2 per cent in August.

The recovery from this was hindered by the arrival of the Omicron variant, which again significantly affected New Zealanders' ability and willingness to travel.

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Clarke said there were just 48,667 international passengers, due to the impacts of Covid-19.

"Looking forward there are good reasons for optimism. We welcomed back transtasman flights in March and more international flights are being reintroduced over the next few months by Air New Zealand, Qantas, Jetstar and Fiji Airways. It's great to see the terminal busy and buzzing again."

Clarke said with every challenge came an opportunity, such as progressing plans to implement the Airport Masterplan and terminal expansion.

He said he was proud of the airport's sustainability work programme.

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"In the last year we've welcomed our first electric flight and are working hard to reduce our energy use and operational emissions by 30 per cent by 2030. We're also looking forward to helping the wider aviation sector transition to lower emissions through electric flights and new, sustainable aviation fuels."

However, the extent of the airport's sustainability and expansion plans have recently been questioned by some Wellington City councillors.

A notice of motion, filed by councillor Iona Pannett and seconded by deputy mayor Sarah Free, was considered over the course of two hours at a council committee meeting last week.

Wellington Airport chief executive Matt Clarke. Photo / Supplied
Wellington Airport chief executive Matt Clarke. Photo / Supplied

They wanted the council to oppose the expansion unless Wellington International Airport and airlines reduce their carbon emissions, improve air quality, reduce air traffic noise, and reduce the use of private vehicles to and from the airport.

Pannett argued the airport was "tinkering around the edges" and new technology would not be developed quickly enough to address climate change.

The move ended up being voted down after councillors were warned it presented a risk to the council's regulatory function and its commercial relationship with the airport.

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Meanwhile, this week the airport is in mediation with local lobby group Guardians of the Bays.

The group has lodged an appeal against the airport, after it got initial approval to turn a green space to the east of the building into tarmac.

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