$3.4m prof it for airport

Nelson Airport has recorded another profitable financial year, continuing the upward trajectory of New Zealand’s busiest regional airport as it advances a major development project.

Highlights of the year to June 2018 include a net profit of $3.4 million, up 12 per cent on the previous year.

Revenue also increased for the fifth year in a row, up by $1m from last year, while earnings before tax, interest, tax, depreciation and amortisation (ebitda) increased 10 per cent to $6.4m.

Board chairman Paul Steere said the results marked a significant year of major construction activities and unabated growth.

‘‘Strong leadership and management have enabled the development of our terminal and parking facilities whilst continuing the efficient day-to-day operations and growth as one of New Zealand’s busiest regional airports.’’

Another highlight was continued passenger growth with the airport reaching 1.061 million passengers for the year, while overall passenger loads hit 81 per cent, up 4 per cent on the previous year.

The Auckland route continued to top the charts with 482,000 passengers, up by 9 per cent on last year.

Nelson Airport chief executive Rob Evans said the results were ‘‘a remarkable achievement’’ for a regional airport.

‘‘It’s part of the bigger story of the business’ extraordinary growth trajectory. In the past three years alone, we’ve seen revenue double from around $5.2m in 2015 to $10.1m in 2018, and ebitda jump from $2.7m in 2015 to $6.4m.’’

In other areas, Air New Zealand Regional Maintenance expanded its customer base, adding Fiji Airways to the list of international airlines now serviced by the facility at Nelson Airport.

Improvements in passenger walkway safety, upgrades to taxiways and apron parking are also being undertaken.