Queenstown Lakes District Council (QLDC) will receive a $5.2 million dividend as the major shareholder of Queenstown Airport, which has marked a strong start to the financial year.

Releasing the airport’s interim report (for the six months to December 31, 2024) Queenstown Airport Corporation (QAC) chair Simon Flood said the business had started the financial year well with a strong financial performance and significant progress towards its strategic goals.

“Following our first-half results, we are pleased to be able to distribute an interim dividend of $7 million, which will be paid out to shareholders this month,” he said. 

“In determining the level of the dividend to be distributed, the board has considered not only our results for the period under review, but also our commitments in the foreseeable future.”

QLDC will receive $5.2 million as the major shareholder (75.01 percent) of the airport. Auckland International Airport Ltd will receive 24.99 percent of the $7 million dividend. 

Queenstown Airport has been busy, with a total of 1,343,006 passengers passing through the terminal in the first six months of this financial year (FY25). 

QAC said this represents a six percent increase compared with the same period the previous year. Revenue for the first half of the financial year was up 22 percent and profit up 27 percent compared with the same period the previous year.

Simon said airport operations ran smoothly during the peak winter weeks and over the summer holidays, when record numbers of passengers travelled through the terminal. The growth in passenger numbers was driven by continued demand for travel to and from Queenstown, with particularly strong trans-Tasman numbers, he said.

The airport will continue its capital investment programme, including work on the Queenstown Airport Master Plan, he added.

“Looking ahead, we expect passenger numbers to remain strong, producing steady revenue and a solid full-year result. We will continue to focus on enhancing the passenger experience, and ensuring we are well-prepared for an extended period of infrastructure delivery.”

QAC’s interim results include revenue of $40.4 million; earnings before interest, tax, depreciation and amortisation (EBITDA) of $29.5 million; and a net profit after tax (NPAT) of $16.2 million.

PHOTOS: Supplied