AUCKLAND INTERNATION

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Auckland International Airport : Airport Sees Travel Recovery Taking Longer Than 3 Years

08/19/2020 | 05:08pm

WELLINGTON, New Zealand--Auckland International Airport Ltd. said a recovery in international travel from the pandemic will take longer than the three years estimated by the main airline industry group and Standard & Poor's.

The airport, which is New Zealand's key international gateway, on Thursday reported a 63% fall in full-year net profit to 193.9 million New Zealand dollars ($128.0 million) due to the collapse in travel since March.

Auckland Airport said it is "prudent" to adopt more conservative planning assumptions than the International Air Travel Association or ratings agency Standard & Poor's, which are forecasting a full recovery in international air travel within three years.

 

Write to Stephen Wright at stephen.wright@wsj.com

 

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