Hamilton Airport posts profit

Picture / Hamilton International Airport

Hamilton International Airport today reported a net profit of $238,000 for the year ended June, down from $350,000 the previous year.

Waikato Regional Airport chairman John Storey said the performance was "satisfactory" given increased cost pressures and ongoing development at the airport.

The airport is set to start a $15.3 million project to upgrade the terminal, extend the runway and develop facilities at the airport.

The airport's profit was achieved on the back of revenue of $4.65 million, up from $4.56 million the previous year.

Total passenger numbers for the year rose 4 per cent. International passenger numbers fell 2.8 per cent, but this was offset by a 6.6 per cent rise in domestic passengers.

Mr Storey said he was confident international passenger numbers would grow in the coming year, driven by the introduction of Freedom Air's service to Sydney in December, and more flights to Fiji.

- NZPA