Auckland International Airport

Auckland International Airport posts significant fall in profits

The net profit for the six months ended December fell to $28.1 million compared with a profit of $147m in the previous year.

The bottom line was saved only by a continued strong performance of its commercial property business, which had a 2 percent lift in revenue and valuation gains of $29.8m.

Underlying earnings fell to a loss of $10.5m, as operations were severely curtailed since last March when border restrictions were put into place and domestic travel all but dried up during the lockdown.