- Net Profit After
- Total Operating Revenue $95.9m
- EBITDAF 
Note: Half year results are unaudited
Christchurch Airport is reporting an increased interim result
for the six months of July to December 2018, off the back of
international passenger growth and strong cost control.
Chief Executive Malcolm Johns says total operating revenue for
the period grew 7.9% ($7.0m) compared to the same period last
"Our team has managed to hold operating costs at last year's
levels through a strong ongoing focus on productivity, which meant
that revenue growth has flowed through to an improved net surplus
after tax of $24.3m, up 26% on the same period last year," he says.
"This has resulted in the Board declaring an interim dividend of
$21.9m, also 26% up on last year."
International arrivals led passenger growth, with a 2.9%
increase in international passengers compared to the same period
the previous year. The stand-out market remains China, growing 7.1%
in the period. In November 2018, China Southern Airlines began
operating its daily service between Guangzhou and Christchurch on
its new 787-900 aircraft, which has around 30% more seats than the
previous aircraft used. For the months of November and December,
since the new aircraft started operating, Chinese arrivals at
Christchurch were up 16% on the same two months the previous year,
while total Chinese arrivals into New Zealand for those two months
dropped by -4%. Christchurch continues to be a growing entry
point for Chinese visitors, who are overwhelmingly attracted to New
Zealand by the South Island.
"We continue to be pleased with the growth in international
arrivals from the USA, up 6.7%, given we don't have a direct
international service with the USA", said Johns.
Of the international airline seats operated by airlines into and
out of Christchurch over the six months, Qantas/Jetstar supplied
28%, Air New Zealand 26%, Emirates 16%, Virgin 12%, Singapore
Airlines 9%, China Southern 5% and Fiji Airways 4%.
Domestic passenger growth was restricted by capacity reductions
on the Queenstown and Auckland routes, both of which continue to
have very high load factors.
As part of their alliance with Singapore Airlines, Air New
Zealand announced in December it would commence a summer service
between Christchurch and Singapore during summer 2019/20, using
their 787 aircraft. This will complement Singapore Airlines daily
service on the same route, which has been upgraded to the new A350
aircraft from January 2019.
In September 2018, Christchurch Airport was named
Australia/Pacific's best small airport at the World Airport Awards
in Copenhagen. Christchurch Airport was the only New Zealand
airport to win a World Airport Award in 2018 and continues to be
named by travellers as Australasia's best airport for customer
 Earnings before interest,
tax, depreciation, amortisation and fair value gains on the
revaluation of investment property