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Ann: FLLYR: WIA: WIAL Results for the Year Ended

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    • Release Date: 30/05/12 17:06
    • Summary: FLLYR: WIA: WIAL Results for the Year Ended 31 March 2012
    • Price Sensitive: No
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    WIA
    30/05/2012 15:06
    FLLYR
    
    REL: 1506 HRS Wellington International Airport Limited
    
    FLLYR: WIA: WIAL Results for the Year Ended 31 March 2012
    
    Wellington Airport is pleased to present its audited Annual Report for the
    year ended 31 March 2012.
    
    Chairman and Chief Executive's Report
    As the Capital City's gateway, Wellington Airport is a vitally important
    piece of national infrastructure providing a significant ongoing contribution
    to the region's economy and delivering a return to its shareholders and the
    city.
    
    Wellington Airport produced another strong year with an EBITDAF of $75.5m.
    Whilst this result reflects a good growth in revenue it also reflects the
    Airport's ongoing focus on efficiency and the Airport remains one of the most
    efficient airports in Australasia. The result is a $5.2m or 7.3% increase
    over the previous year excluding subvention payments. The dividend for
    Wellington City Council in 2012 equates to around $120 per ratepayer. The
    Airport's advertising subsidiary iSite Limited was sold during the period and
    following the sale a special dividend of $40m was paid to shareholders. These
    results have been achieved despite forces of nature including ash cloud from
    Chile's Puyehue-Cordon Caulle volcano range, snow closing the runway and the
    Christchurch earthquake.
    
    Aeronautical revenue increased overall by 7.3% for the year. Strong growth on
    the international market saw passenger numbers increase by 9.7% with
    increased capacity and attractive fares provided by the Air New Zealand /
    Virgin trans-Tasman alliance and Qantas. Melbourne services grew by 12.8% and
    Sydney by 10.2%. Australian visitors to Wellington in general were up over
    15% over the last 12 months which is significantly higher than the New
    Zealand average. Domestic passenger numbers were flat with the withdrawal of
    Pacific Blue being offset by the increase in Jetstar's capacity on main trunk
    routes coupled with the introduction of its new route to Queenstown. This
    daily direct jet service to Queenstown provides a new opportunity for the
    people in the greater Wellington region and its visitors to travel to
    Queenstown with low cost fares.
    
    $22.5m was invested in capital developments over the year. Infrastructure
    investment for the next five years is forecast to be in excess of $100m,
    including $65m in aeronautical capital expenditure. The new aircraft hangar
    on the western apron is a world class aircraft handling facility in New
    Zealand's capital city operated by Execujet. The car park extension doubled
    the number of undercover parks and provided 230 new parks on the top deck,
    improving drop-off facilities and access to parking. An objective of the
    Airport's retail offering is to reflect the best of Wellington and ensure a
    comprehensive range to meet all visitors' tastes and budgets. This focus
    contributed towards passenger services income increasing by 9.3% for the year
    under review.
    
    The Airport successfully managed its busiest day ever with over 20,000
    passengers, including three times the usual number of international
    passengers, after the quarter finals weekend of the Rugby World Cup 2011.
    Collaborative planning with our airport community went into ensuring all busy
    days ran as smoothly as possible. Thanks to the support from volunteers and
    airport ambassadors, all passengers and visitors for RWC 2011 were well
    looked after.
    
    After a year of extensive consultation with its major airline partners and
    the Board of Airline Representatives of New Zealand, Wellington Airport
    finalised the charges airlines will pay for using the Airport's facilities
    and infrastructure for the next five years from 1 April 2012. The
    consultation resulted in the removal of the International Departure Fee,
    which has been in place for over 20 years. Wellington Airport's prices will
    remain in the middle of the range across Australasia and in-between Auckland
    and Christchurch Airports. The new prices ensure that travel to and from
    Wellington is competitive with international charges set to reduce by 39%
    which, combined with incentives for growth, is expected to help promote new
    routes and additional services to the Capital. New Zealand's three main
    airports are now required to complete new information disclosures to the
    Commerce Commission. The Commerce Commission is required to review the
    effectiveness of the information disclosure regime, and it is expected that
    this will be undertaken in late 2012 and 2013.
    
    The Airport welcomed Steve Sanderson as Chief Executive for Wellington
    Airport in February 2012 and farewelled Steven Fitzgerald, who moved to
    another role with major shareholder Infratil and remains on the Airport's
    Board.
    
    Behind the Airport's safe, efficient and welcoming gateway are its staff and
    partners: airlines, agencies, neighbours, over 100 businesses, 1500 people
    who work at the Airport, over 6000 people in directly related employment,
    capital providers and regional businesses. The Board has every confidence in
    the Airport team's ability to continually improve passengers' experience and
    profitability. The planned developments for future passenger growth and
    investment in infrastructure will ensure Wellington Airport continues to
    remain one of the top Australasian Airports with strong earnings growth.
    
    A copy of the Annual Report for the year ended 31 March 2012 is attached to
    this announcement.
    
    Steve Sanderson, Chief Executive. David Newman, Chairman.
    End CA:00223421 For:WIA    Type:FLLYR      Time:2012-05-30 15:06:53
    				
 
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