Christchurch airport parking and concessions up 25%
Christchurch International Airport's monopoly on lease rentals, car parking and concession revenues have offset falling passenger numbers.
Christchurch International Airport’s monopoly on lease rentals, car parking and concession revenues have offset falling passenger numbers.
Public users of the airport and car rental companies have complained about outrageous parking charges and fee rises over the past couple of years.
Revenue from these activities gleaned $7 million - 25.6% ahead of last year.
Acquisitions such as The Wash and the International Antarctic Centre also had a positive influence on commercial revenues.
The new $200 million terminal development took the shine of the bottom line. The net profit after tax for the six months to December 2011 was $7.99 million which was $5.4 million (-40.5%) below the result for the same period last year, with increased interest costs and depreciation following the completion of Stage 1 of the terminal development.
Earnings before the higher interest, tax depreciation and amortisation were $31.5 million, slightly below the $31.8 million for the same period last year, mainly due to increases in operating costs as a result of the earthquakes.
The Canterbury earthquakes resulted in reduced tourism numbers.
Chris Hutching
Mon, 05 Mar 2012
Mon, 05 Mar 2012
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Christchurch airport parking and concessions up 25%
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