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1 Mar 2022

Christchurch Airport interim result 2022

Christchurch Airport maintains a strong balance sheet as the three-month Auckland lockdown impacts half year net surplus after tax.

Interim result figures for the six months to December 31, 2021:

  • Christchurch Airport’s balance sheet remained unchanged with drawn debt reducing by $1 million over the period
  • Total operating revenue was $66.5m, up 0.7% compared to the same period last year (down 31% compared to the last pre-Covid six-month period).
  • Net surplus after tax (NPAT) of $41k, compared to $1.2m for the same period last year
  • Total passenger numbers of 1.49 million were down 11% on the same period last year (down 56% on pre-Covid levels).
  • While significant ongoing levels of support continue to be provided to many tenants, revenue from the property portfolio has remained resilient, reflecting the quality of the overall portfolio as a whole. Property Lease revenue at $26.9m was up 5.6% on the same period last year

“Omicron will impact trading in the second half of the year to 30 June 2022, though it is too early to know exactly by how much. However opening borders and the fact the airport has preserved its 2019 balance sheet position throughout COVID means the company is well placed to thrive again from FY23 onward”, says Chief Executive Malcolm Johns.

Mr Johns says the pandemic has provided a unique window of time for many key pieces of infrastructure to be completed and the city is ready to relaunch itself nationally and globally.

"Major new developments like the Lyttleton cruise berth, Te Pae convention centre, the soon-to-open Metro Sports centre, and a renewed and awesome CBD means Christchurch will emerge from the pandemic with a new and exciting visitor proposition, and an ability to participate in many market segments it wasn’t able to before the pandemic."

- Malcolm Johns

“Christchurch city is ready to re-launch itself and thrive in multiple visitor markets. That is super exciting - we’ve got to confidently back ourselves and that is something Christchurch Airport is 100% committed to being right behind,” he says.