Auckland Airport lifts profit forecast for fiscal 2023 on demand recovery
4:17 pm Wednesday, October 19th, 2022
(Reuters) – Auckland International Airport Ltd on Thursday raised its profit forecast for fiscal 2023, helped by a better-than-expected rebound in the aviation market.
High aircraft load factors and continued strength in forward international seat capacity are expected to fuel the ongoing recovery, New Zealand’s biggest airport operator said.
Earlier this year New Zealand reopened its borders and loosened restrictions that led to one of the fewest COVID-19 case loads in the world. The country welcomed hundreds of travelers from Australia in early April for the first time since mid-2021.
“We are increasingly confident that aviation is returning to normal,” said Chief Executive Carrie Hurihanganui, adding that the global aviation system continues to be impacted by lack of availability of crew and ground staff.
The company expects underlying profit after tax of between NZ$100 million ($56.64 million) and NZ$130 million for the year, up from NZ$50 million to NZ$100 million forecast earlier.
Auckland Airport now anticipates that international passenger numbers will be between 60% and 70% of pre-pandemic levels for the year, with domestic passenger numbers at 85% to 90% of those levels.
($1 = 1.7655 New Zealand dollars)
(Reporting by Harish Sridharan in Bengaluru; Editing by Shounak Dasgupta)
