Auckland International Airport Ltd

AIA: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$5.80	Rtyw	Tkpksnnqt

Auckland International Airport Earnings: Passenger Growth Lifting All Segments

Alexander Prineas

Feb 26, 2024

The ongoing passenger recovery for wide-moat Auckland International Airport and higher regulated aeronautical pricing contributed to revenue uplifts for the December half across all segments including airfield income passenger service charges, retail income, car parking, and investment property-related income. Revenue rose 53% against the first half of fiscal 2023. While increased activity pushed up operating expenses, these rose a lesser 32%, resulting in earnings up 64% (before interest, tax, depreciation, fair value movements, and investments in associates).

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