Christchurch International Airport's (CIAL) finances have taken a hit as a result of the pandemic.
File photo. Photo: Supplied / Christchurch International Airport / Port Hills Productions
Key numbers for the year ended June ($millions) vs year ago
- Net profit $38.7m vs $45.7m
- Underlying profit (excluding one-off items) $7.5m vs $23.8m
- Revenue $189.5m vs $179.3m (incl $47m property value gain)
The airport's bottom line was affected by the pandemic, as international traveller numbers fell by 95 percent.
This contributed to about $21 million in lost earnings.
Despite the various lockdowns in the past 12 months, domestic tourism fell just 6 percent to 3.6m.
Total traveller numbers through the airport fell from 5.2m in the past financial year to 3.7m.
"We spent seven years building the business back better after the earthquakes," CIAL chief executive Malcolm Johns said.
"Covid-19 means we must rise to that challenge again, but this time we'll do so armed with the lessons of round one and from a stronger commercial position."
The airport said it was considering a bond offer later this year to refinance its existing debt.
The company's board intends to pay a dividend to its two shareholders, with a final decision to be made in October.
The Christchurch City Council owns 75 percent of the airport and the government owns the remaining 25 percent.