Auckland Airport has reported a strong financial performance for the fiscal year ending 30 June 2024, driven by a significant increase in passenger numbers.

Coasties will be interested to know that total passenger numbers surged to 18.5 million, marking a 17% rise compared to the previous year.

Domestic travel saw a 5% increase, reaching 8.5 million passengers, while international passengers, including those transiting, rose by 29% to 10.1 million.

Auckland Airport Chair Patrick Strange attributed this growth to the return of international airline capacity.

“The lift in capacity, particularly on North American routes with a 48% increase in available seats, has not only benefited Kiwis but led to a 40% growth in North American visitors – an important economic driver for New Zealand’s tourism industry,” said Strange.

Additionally, connectivity with China has improved, with seat capacity surpassing pre-pandemic levels by 2%, further boosting tourism.

Infrastructure and Financial Highlights

The airport’s revenue grew by 43%, reaching NZD 895.5 million, and the operating EBITDAFI (Earnings Before Interest, Taxes, Depreciation, Amortisation, and Fair Value Adjustments) increased by 55% to NZD 614.0 million.

Despite these gains, reported profit after tax dropped by 87% to NZD 5.5 million, reflecting the airport’s continued investment in infrastructure.

Chief Executive Carrie Hurihanganui noted that Auckland Airport is taking a careful approach to cost management due to the current economic environment.

The airport's terminal integration programme, which connects the international terminal with the new domestic jet terminal, is progressing, with 20% of the project already completed.

"We’re making positive progress," Hurihanganui said, highlighting the benefits the new infrastructure will bring to both tourism and trade.

Ongoing Developments and Future Outlook

The airport is also focusing on sustainability, having achieved a 25% reduction in direct carbon emissions compared to 2019 levels.

Looking ahead to the 2025 financial year, Auckland Airport expects passenger numbers to continue rising, with projections of 8.6 million domestic and 10.5 million international passengers.

However, ongoing challenges, including global aircraft supply issues and economic headwinds, remain a concern.

As the airport continues to expand and modernise its facilities, it is committed to ensuring that Auckland remains a key gateway for travellers and trade in New Zealand.