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Auckland Airport expands by ‘royal’ appointment – buys initial stake in Queentown

14-Jul-2010

Auckland International Airport Ltd (AIAL) has acquired an initial minority 24.99% shareholding of the increased capital in New Zealand’s Queenstown Airport Corporation by subscribing for approximately four million new shares. It was only six months ago that AIAL took a stake in the Cairns and Mackay airports in Australia (North Queensland Airports Group) and this transaction enhances AIAL’s new strategy of investing outside of its core operation. The main questions raised are whether AIAL’s concept of multi-destination (Auckland/Queenstown) tourism marketing can succeed, and in what markets; what type of carrier Queenstown will now seek to attract; and whether Christchurch Airport, which calls itself ‘New Zealand’s Tourism Gateway’ will just roll over and die, or fight back? [2248 words]

Unlock the following content in this report:

Subheadings:

  • Dream team
  • Deal closer
  • Cross-selling of multiple destinations is inconsistent but can work
  • Christchurch reacts positively to the news but is likely to provide competition to Queensland
  • Wanaka to go
  • Australian investment starting to pay off?

Graphs and data:

  • Queenstown Airport total passenger numbers and passenger numbers growth: Jul-2009 to Jun-2010
  • Queenstown Airport total passenger numbers forecast: 2010 to 2015
  • Queenstown Airport carrier capacity share by carrier
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