Wellington International Airport Ltd has boosted its annual net profit by 81%, but says its returns are well below the Commerce Commission's benchmark.
Net profit rose to $16.2 million for the year ending March - compared with $9 million the previous year.
The airport company said underlying operating earnings rose 9.8% to $82.9 million.
Earlier this year, the Commerce Commission found Wellington Airport was earning millions of dollars more than was reasonable.
But airport chair David Newman denies that this year's result is excessive.