“We have continued the development of our bare land to lift revenues, grow shareholder value, increase dividends, and balance risk associated with what can be a dynamic aviation industry,” enthuses David Mackenzie, chairman of operator, Christchurch International Airport Limited (CIAL).
Indeed, during FY16 the airport company completed and opened Spitfire Square, its new convenience retail complex, and opened Mustang Park, its new tourism transport hub.
It currently has $168 million of new investment property development underway, which will begin generating additional income in FY17 and FY18.
This includes the South Island Freight Hub, being developed with Freightways and Courier Post; the 240 bed JUCY Snooze pod hostel, the first in New Zealand, due to open October 2016; the 200 room Novotel Christchurch Airport due to open December 2017.
The last 12 months have been good to the airport, which handled an all-time high of 6.3 million passengers in FY16.
“Christchurch remains the South Island’s gateway for international visitors,” adds Mackenzie.
“We’ve seen very pleasing progress this year, with increasing international airline capacity and high airline load factors.”
Airline seat availability grew 7% during FY16 to 7.9 million, with several new services starting midway through the year.
International passengers using the trans-Tasman network also increased by 7% and long-haul by 18%.
The airport also handled 29,000 tonnes of international air freight, up 4% on the previous year.