Wednesday 12 October 2005
Record year for Christchurch International Airport
With unprecedented growth in international passenger numbers and the introduction of new services to Los Angeles, Dubai
and Rarotonga, Christchurch International Airport Limited (CIAL) has announced a significant increase in revenue for the
year ended 30 June 2005, resulting in an after tax surplus of $16.5 million, an 11.5% increase from last year.
With total revenue up 12.6% to $71.8 million and passenger numbers up 8% to 5.5 million, the strong result has enabled
the company to improve the return to shareholders with a dividend payout of $9.3 million and an increase in shareholder
equity to $222.6million.
'We are pleased to announce another solid financial result. Our strong balance sheet has allowed us to deliver increased
shareholder value and position the company for the future' said Chairman Syd Bradley.
Acting Chief Executive Vic Allen said that strong support from airlines and the growing popularity of the South Island
as a destination of choice underpinned the result. 'We have adopted an innovative marketing strategy to grow demand for
Christchurch and the South Island as a holiday destination. We continue to invest in new markets and have seen some
success. Take our growth in the inbound holiday travel market over the past year. International holiday travellers
flying into Christchurch in 2004/2005 grew by 54,749 - compared with 144 into Auckland and 8,564 into Wellington.'
Mr Bradley added 'Looking ahead we will progress our strategic direction to provide the capability and infrastructure to
meet existing and future demands of increased passenger growth. We are well placed to proceed with our $200 million
terminal development and thereby improve the travelling experience for our customers. The development will enable us to
accelerate our vision to be the leading destination for holiday travel in New Zealand.'
Key Performance Statistics Financial Year Ended 2005 International Aircraft Movements increase 29.5%International
Passenger Movements increase 25.1%Domestic Aircraft Movements decrease 5.8%Domestic Passenger Movements increase
3.1%Operating Revenue $70.8 Million increase 11.9%EBITDA $42.2 Million increase 10.3%Total Equity $222.6 Million