Auckland Airport should be on a winner buying into Cairns and Mackay Airports. Who's next?
New Zealand's Auckland International Airport (AIAL) has agreed to purchase a 24.55% stake from Westpac Bank in North Queensland Airports (NQA), the operator of Cairns Airport and Mackay Airport, for NZD166.5 million (AUD133.5 million, USD123.4 million). AIAL’s CEO, Simon Moutter stated he is bullish about the future performance of Cairns and Mackay airports, due to the growing number of LCCs operating from those airports. He added the primary motive for the purchase was to increase passenger traffic to Auckland, particularly through Asia, as the Queensland airports continue to push for traffic from Asia. He is hopeful the stake will boost passenger numbers through Auckland Airport by 100,000 a year within the next five years. Was it a high price to pay for additional feed at Auckland? Industry change and tourism authority cooperation could make this model work.
Become a CAPA Member to access Analysis Reports
Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.
Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.
CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 400 News Briefs every weekday and comprehensive data and analysis on thousands of companies around the world.