New Zealand’s Christchurch Airport has reported a stronger than forecast performance during the financial year 2023 (FY23). The airport has reported a net surplus after tax of $36.8m, resulting in a total annual dividend of $27.6 million for the year to June 2023 – $14.5 million was paid to shareholders in February 2023, and a final dividend of $13.1 million will be paid in October this year.
Total passenger numbers for the year were 5.69 million, compared to 3.26 in the previous year. Passenger figures were 82.5% of pre-COVID levels with domestic traffic accounting for 90.2% and international traffic accounting for 60% of this total.
“The strong restart and performance has been underpinned by the diversification of the business,” said Board Chair Catherine Drayton. “The return of passenger activity has brought the terminal back to life, including the restart of retail outlets, the re-opening of the Novotel Christchurch Airport and the addition of new food and beverage offerings.”
The airport’s property portfolio also continues to perform strongly, with its investment property portfolio growing to occupy 21.6 hectares of building space and lease occupancy sitting just shy of 100%. The total contracted property rent roll has grown a further $3.5 million during FY23.
Airline services at the airport also continue to grow or expand with Cathay Pacific, China South Airlines both restarting this summer and increased services from Singapore Airlines, as well as the commencement of a new direct route between Christchurch and San Francisco from United Airlines.
The airport is also pushing ahead with its Kaitiaki focus to address the challenges of climate change. It is advancing its 300-hectare solar development, Kowhai Park, on the west of the main runway and evolving from a single campus approach to actively exploring what further role it could play in aviation in New Zealand through the exploration phase of its Central Otago project.
“We look ahead with a clear purpose and positivity about the role we can play in delivering stakeholder value for Otautahi Christchurch and Te Wai Pounamu South Island,” concluded Drayton.
