Queenstown Airport profit hits record $5.2m
Record passenger numbers have helped Queenstown Airport Corporation to a record after-tax net profit for the year ended June 30.
Figures from the annual report were released yesterday showing net profit after tax for the year as $5.2 million, up 13.3 per cent from $4.6m the previous year.
Top line revenue increased 12 per cent to $17.5m and ebitda was strong at $11.5m, a 16 per cent increase on the previous financial year.
Corporation chairman John Gilks attributed the growth to record visitor numbers of 1,047,044, also up 13.3 per cent from the previous year.
All four scheduled airline operators, Air New Zealand, Jetstar, Qantas and Virgin Australia had increased activity at Queenstown Airport and there was now seat capacity in and out of the resort of 1,365,000 seats - a 24.8 per cent increase on the previous year.
Given the solid performance, the airport would pay its shareholders (75.1 per cent Queenstown Lakes District Council and 24.9 per cent Auckland International Airport Ltd) a dividend of $2.6m, taking total dividends paid from profits earned for the financial year to $3.6m.
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