Tourism drives records at Christchurch Airport
- Half-yearly profit up by 63.6 %
- Revenue increase of 12.2% for six months
- Passenger numbers increased by 5.6%
- Busiest day ever recorded in February
A record-breaking run of aeronautical growth and solid cost
control are major factors in Christchurch Airport lifting its
first-half profit by 63 percent.
The net surplus after tax increased by 63.6% ($6.3m) to $16.2
million for the six months to December 31 2015, compared with the
same period of the previous year.
The airport's revenue increased by 12.2% for those six months to
$82.7 million, compared with the same period of the previous
The total number of passengers increased by 5.6% (165,156) to
3,105,464 and the airport is on target to reach 6.3 million
passengers for the full year (up from 5.9 million for the prior
Christchurch International Airport Limited (CIAL) chairman David
Mackenzie says the Board is satisfied sustainable aeronautical
growth is being achieved and the outlook is good across all the
company's business activities. He says revenues are forecast to
increase as a result of the additional passengers, investment by
the airport and tight cost control.
"A comprehensive review of those aspects has led the board to
increase its dividend payments to shareholders," says Mr Mackenzie.
"We will increase from paying 60% of net profit after tax to paying
90% of it in dividends to shareholders, effective from the current
financial year as we move out of recovery phase and into strong
growth. This decision lifted the declared half year dividend to
$14.5 million, from $4.5 million the previous year. "
Christchurch Airport Chief Executive Malcolm Johns says several
records have been set this summer, off the back of a raft of new
international capacity (which commenced mainly in November and
December) from Singapore Airlines, China Airlines, China Southern
Airlines, Qantas and Virgin. This has driven around $150 million 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 the 19th of February 2016, as 25,618 passengers
Mr Johns says the airport company expects to end the year with
passenger numbers of around 6.3 million, up from 5.9 million last
year, which will be an all-time record for Christchurch Airport. He
says the 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.