AIA have released their pax numbers for November and projections for December. Unsurprisingly with Auckland in lockdown during the period, and border restrictions across most of the south Pacific, volumes in both Auckland and Queenstown were negligible. 

In consultation with airlines, the company has frozen aero charges for FY23.

Also in what seems the longest announcement (4 October) to commencement, Carrie Hurihanganui, former COO of AirNZ will be joining as the CEO. The date of commencement is still unclear.

Looking back to last FY results, AIA posted the first ever full year loss of $41.8M on the lowest pax volumes since 1972. 

Results for the six months to December 2021 are not out until 24 February, but I cannot imagine there will be much champagne on ice. 

Watching SYD takeover offer, I thought it was worth a look at one of the other few listed airports in the world. Especially as two of my colleagues are traveling to Un Zud within the next few weeks on vacation. Do we think a pent-up travel demand exists?

Well if the traffic volumes are anything to go by…pax volumes are up over 700% since last year. That means not much as the border was closed and domestic traffic was also low. Domestic traffic is seeing a strong returning. International is not faring as well, especially as many flights were onward to Australia such as those operated by LAN and Emirates.

Airports revenues come from aircraft movement charges as well as leased spaces including terminals and car parks. With low traffic volumes, revenue has unsurprisingly heavily impacted. The retail revenue went effectively to zero for example. Total revenue now about 35% of pre-pandemic levels.

They have managed to significantly reduce expenses, down by around half which. Operating expenses are on the increase as the airport prepares to start reopening.

Results are released 19 August. Will be watching with interest.