[ad_1]
supplied/Supplied
Queenstown Airport is paying a record interim dividend following the return of visitors after Covid-19 lockdowns.
Queenstown Airport Corporation will pay a record interim dividend after the return of overseas tourists and domestic visitors boosted profit.
The corporation recorded revenue of $30 million and net profit after tax of $11.5m for the six months to December 31.
It will pay an interim dividend to shareholders of $5.98m. The Queenstown Lakes District Council is the majority shareholder, owning 75.1%. Auckland Airport holds the remaining 24.9%.
Airport corporation board chairpersonn Adrienne Young-Cooper attributed the strong results to the return of Australian and domestic tourists following Covid-19 lockdowns in the previous two years.
READ MORE:
* Steep decline in revenue continues at Queenstown Airport Corporation
* New Queenstown Airport boss Glen Sowry wants to restrict growth after community backlash
* Queenstown Airport profits plummet during turbulent year
“The great snow conditions during winter, combined with the uplift in passengers taking the opportunity to reconnect with friends and family, made the Southern Lakes a popular destination,” she said.
“In addition, the Queenstown Lakes District population has grown by 10.5% since 2019 and is now close to 50,000.
“With a larger population base and more New Zealanders working remotely, the airport remains an important link for residents of the region.”
Olivia Caldwell/Stuff
Simon Giles surprises wife Lynda Thwaites with a bunch of home-grown roses as they reunite at Queenstown Airport after nearly five months apart.
The result contrasts sharply with the previous year, when 12 monthly total revenue was $26.8m and the overall profit after tax was $1.08m.
Despite the numbers the airport declared a $1.3m shareholder dividend – the first dividend in three years.
It is anticipated the total dividend for the financial year ending in June will be the highest ever paid. The highest full-year dividend to date was $8.3m paid in the year ending June 2019.
The six monthly results show earnings before interest, tax, depreciation and amortisation (EBITDA) of $22.5m, and total passenger numbers – those arriving and departing – of 1,224,179.
Debbie Jamieson/Stuff
Queenstown Airport runway is sandwiched between the Shotover River and Lake Wakatipu.
The airport corporation supported businesses and airlines operating at the Queenstown and Wānaka airports during Covid-19, including providing rent relief of $12.38m to 68 tenants.
“To date, all operators at Queenstown Airport continue to operate, which was the objective of the rent relief provided,” Young-Cooper said.
The airport corporation confirmed its 10-year strategic plan during the reporting period and the key project for the rest of the financial year is the development of a 30-year draft master plan.
Stakeholders and the community will be consulted on it late in the financial year, with a final plan to be presented to shareholders later this year.
Supplied/Stuff
Queenstown Airport Corporation chief executive Glen Sowry wants the airport to be involved in enabling the decarbonisation of aviation.
Chief executive Glen Sowry said the airport played a crucial role in enabling the economic and social wellbeing of the region and would be an essential infrastructure asset in the event of a natural disaster.
“This means we must invest in our airport to ensure it is fit for purpose and continues to meet these needs in the future,” he said.
Enabling the decarbonisation of aviation was central to the airport’s strategy and long-term planning and would be critical to achieving the Queenstown Lakes District’s bold ambition to be the world’s first carbon-zero tourism destination, which the airport corporation supported, he said.
[ad_2]