Auckland International Airport posts $310.4 million profit

Thursday, 21 August 2025

Auckland International Airport has posted a $310.4 million profit after tax for the year to June 30, up 12% as airlines struggle with ongoing engine maintenance and supply issues globally sector, and the subdued domestic economy.

Chairperson Julia Hoare said the number of international airline seats stabilised at 92% of 2019 levels, with the ongoing soft recovery in passenger numbers.

“Aviation connectivity is critical to New Zealand achieving its economic growth ambitions, so recovering and growing airline seat capacity has remained a top priority for the Auckland Airport team,” Hoare said.

International airlines continued to prioritise their available fleet elsewhere in the short term, but New Zealand remained well-positioned for growth — boosted by several airlines announcing new routes and expanded capacity for the summer, she said.

Among them, China Eastern would launch a new route from Shanghai Pudong Airport through Auckland Airport to Buenos Aires Ezeiza Airport in December.

“Not only does it provide a key connection between China and South America, but it also helps address a gap in direct capacity between New Zealand and South America, currently down 46% compared to the pre-pandemic period,” Hoare said.

Chief executive Carrie Hurihanganui said ongoing airline seat capacity constraints were expected to continue in the short term.

Global geopolitical environment on travel demand, the softer New Zealand economy, and the business needing to adjust to operating in a live and an ever-increasing construction environment, were creating additional uncertainty around the outlook.

Domestically, Jetstar increased its capacity by 14%. However, capacity overall remained steady, due to Air New Zealand’s ongoing engine issues as well as the overall economic environment, she said.

The number of passengers passing through the airport rose 1.1% over the previous year. International passenger numbers were up 2.5% year to 10.3 million (including transits) while domestic passengers were down 0.5% to 8.4 million.

In total, 28 airlines flew non-stop between Auckland and 42 international and 23 domestic destinations.

The airport remained cautious about the outlook for the 2026 financial year. Domestic and international passenger numbers of about 8.6 million and 10.6 million respectively were expected, and underlying profit guidance was for between $280m and $320m.

Construction of a new $800m domestic jet terminal had started with about 1500 people working on site.

Improvement to the baggage-handling system and recently upgrade to the existing international arrivals area and the airport was reaching the stage where travellers would increasingly notice construction works, Hurihanganui said.

“With new infrastructure delivered such as the transport hub, alongside operational improvements, we are already seeing our efforts to improve the traveller experience coming through in everything from higher quality facilities to faster processing times,” she said.

International arrivals processing time had reduced to a median 15 minutes in June, an 8% improvement on the same period a year ago.

Earlier in the financial year Mānawa Bay retail precinct was opened with 111 stores, and French duty free retailer Lagardère had taken up an eight-year contract to operate the airport’s duty-free stores.

Auckland Airport’s investment property portfolio ended the year at a total value of $3.4 billion, with a commercial property rent roll of $192.1m, occupancy levels at 99% and a weighted average lease term currently at 8.9 years.

The company’s shares were down 1 cent to $7.79 in early trading.