Auckland and ACSA earnings: investment pays in one case, causes a headache for airlines in the other

New Zealand's Auckland International Airport Ltd (AIAL), and Airports Company South Africa (ACSA), have released their financial reports for the period 12 months to 30-Jun-2011 and 12 months to end 31-Mar-2011, respectively. AIAL is starting to reap the rewards of its investments in New Zealand's Queenstown Airport and the two North Queensland airports in Australia, but may face some unexpected competition in its own backyard. ACSA's report demonstrates it did not receive the benefits that might have been anticipated from last year's World Cup competition, now raising its charges to airlines as a means of paying for the infrastructure that helped host the event.