A passenger increase of 14.5 per cent to almost 1.2 million at Queenstown Airport in the past financial year pushed revenue to almost $20 million.
This yielded the Queenstown Airport Corporation - the only Queenstown Lakes District Council-owned company to escape a radical overhaul in recent reviews - a net profit after tax of $5.3m, up 13.3 per cent.
Corporation chairman John Gilks said strong passenger numbers coupled with "prudent" management of operating expenses were the bedrock that profit was built on.
However, the strategic alliance formed between Auckland Airport and Queenstown Airport in 2010 was delivering results far beyond expectations, delivering a final dividend of $3.6m, or roughly $122 for every rateable Queenstown property, Mr Gilks said.
"As a larger airport, Auckland has much more depth in knowledge and resources than Queenstown and has proven itself very willing and able to share these resources," he said.
- The Southland Times