Australia-New Zealand fare war (and airport charges war) heats up - Auckland Airport shares rise
Emirates has opened a new front in the fare war engulfing the trans-Tasman markets between Australia and New Zealand. The carrier has launched an offer of one-way fares from AUD99 (USD70) from Sydney to Auckland or Christchurch, plus airports taxes, which range from - wait for it - AUD83 for one way and AUD133 for return Economy Class travel.
Air New Zealand last week requested a court-based judicial review next month into Christchurch International Airport Ltd's NZD208 million (USD124.2 million) terminal redevelopment plans. Air NZ stated it wanted a terminal "at a cost that's acceptable to us". Last month, Air New Zealand called on Christchurch, Wellington and Auckland airports to immediately reduce their charges to assist the airline industry amid the market downturn.
Auckland Airport shares rose 5.2% on 09-Jan-09.
Selected airports daily share price movements (% change): 09-Jan-09