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Auckland Airport reports a strong month in the domestic market in Jan-2010

Analysis

Shares in Auckland Airport jumped 1.6% yesterday, upon the release of its traffic report for Jan-2010. Domestic passengers led the way up, increasing 11.8% year-on-year to 481,995, while international passengers rose 1.8% year-on-year to 733,296, despite a 2.8% reduction in aircraft movements to 12,809, suggesting higher load factors for airlines.

Summary
  • Auckland Airport's shares rose by 1.6% following the release of its Jan-2010 traffic report.
  • Domestic passenger numbers increased by 11.8% year-on-year, while international passengers rose by 1.8%.
  • Despite a reduction in aircraft movements, higher load factors for airlines were suggested.
  • The airport expects to report a net profit after tax in the range of NZD100 million to USD105 million for the full 2010 financial year.
  • Capital expenditure is projected to remain in the range of NZD60 million to USD65 million for the same period.
  • Auckland Airport's financial report for the six months ended 31-Dec-2009 was released recently.

See related report: Worldwide airports data: Monthly aircraft movements now tracked by CAPA

With an improvement in passenger traffic, the airport expects to report a net profit after tax (excluding any fair value changes and other one-off items) in the range of NZD100 million to USD105 million, and capital expenditure to remain in the range of NZD60 million to USD65 million for the full 2010 financial year, ending 30-Jun-2010.

Auckland Airport released its financial report for the six months ended 31-Dec-2009 on Saturday. The airport's traffic and financial reports are contained in Airport Business Daily, your strategic airport news service, delivered daily to your inbox. Sign up now!

Selected airports daily share price movements (% change): 02-Mar-2010

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