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Auckland Airport financial report FY2019-2020: slow recovery

Premium Analysis

As airports and airport groups release their mid-year financial reports, Auckland Airport's for the full financial year 2019-20, ending in Jun-2020, is one of the first to span the heady days of pre-COVID-19 aviation, when the main concern was with the fast growing anti-air transport environmental movement, and the post-COVID-19 ones, which could not have been imagined at this time in 2019.

Auckland Airport's story is one of exceptional performance in the first half of the reporting period followed by a disastrous one; although – unlike some of its counterparts that have been releasing 1H2020 reports recently – the airport was able to report a positive EBIT and net profit (Auckland typically has one of the highest EBITDA margins).

Looking to the future, Auckland Airport is preparing for the turnaround when it comes, pointing to a range of positive influences both nationally and internationally. But at the same time it acknowledges that turnaround may be longer coming than some industry organisations have predicted.

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