Christchurch International Airport's targeted returns over the next two decades are too high and its pricing lacks transparency, the Commerce Commission says, affirming an interim view published in October.
New Zealand's second-largest airport's proposed pricing for 2012 to 2032 targets a return of 8.9 per cent, above the 7.6 per cent-to-8.5 per cent range the regulator deems acceptable.
Wellington International Airport and Auckland International Airport are also regulated under the Commerce Act, which requires them to disclose price setting methodology, financial statements and business plans.
The commission is then required to report to ministers on how effective the disclosure regime is in promoting long-term benefit for consumers, limiting excessive profits, incentivising efficiency gains and passing on any gains to the customer.
"Overall, information disclosure regulation appears to have had little influence on Christchurch Airport's conduct or performance," Sue Begg, deputy chair at the commission, said in a statement. "Given the charges that Christchurch Airport has set, which were based on a 20-year pricing approach, our conclusion is that information disclosure regulation is not limiting excessive profits."