A record-breaking run of aeronautical growth and solid cost control have been major factors in Christchurch Airport increasing its profit by 63% to NZ$16.2m (US$10.9m) for the six months to December 31, 2015, when compared with the same period in 2014.
The New Zealand airport’s revenue also increased by 12.2% for the same six-month period to NZ$82.7m (US$56m) compared with the same period the previous year. The total number of passengers increased by 5.6% to 3,105,464 and the airport is on target to reach 6.3 million passengers for the full year to June 30, 2016, up from 5.9 million the previous year and marking a all-time record for the airport.
Christchurch Airport chief executive Malcolm Johns said several records have been set this summer, off the back of a raft of new international capacity from Singapore Airlines, China Airlines, China Southern Airlines, Qantas and Virgin.
“This has driven around NZ$150m (US$101.5m) of new international visitor spending into the regions of the South Island this summer. As a result, the airport also had its busiest day ever on February 19, 2016, as 25,618 passengers passed through,” Johns added.
According to Johns, business is moving into an accelerated growth phase as the team focuses on building a stronger business, invests in enhancing customer journeys, and sets about lifting shareholder returns.