Auckland International Announces February 2019 Monthly Traffic Update

Auckland International Announces February 2019 Monthly Traffic Update

Auckland International Airport Limited (ASX: AIA) announced a growth of 2.0% in its total passengers in February 2019, where its International passengers growth, excluding the transits, were flat from the previous corresponding period, while domestic passengers grew by 4.2% compared to February 2018.

The international passenger growth, excluding the transits, was affected by the timing of Chinese New Year, where most of the arrivals were observed in January 2019 as opposed to February in 2018. This led to a decrease in Chinese visitor arrivals by 29.1% in February 2019. Additional capacity, particularly on the Auckland-Queenstown route drove domestic passenger growth with +12,000 seats.

Other key highlights of the company included a statement from Air New Zealand, where it stated that it would be starting three flights per week between Seoul and Auckland from November 23, 2019. In the summer peak holiday period from late December to mid-February, it will operate up to five flights per week. The company further announced that during the New Zealand summer peak from November 2019, it will increase frequency to up to five flights per week on its Chicago and Taipei routes.

Auckland Airport:

The change in the passenger movements for international passengers (excl. Transits) were reported at 872,387 in the current month, i.e. February 2019, up from 872,408 passengers in the previous corresponding period. In Transit movements, 74,742 passengers (up 3.3% pcp) were reported, and 802,291 domestic passengers (up 4.2% pcp) were reported in the month of February 2019.

China witnessed a degrowth in passenger inflow in the month of February 2019, with a reported drop of 29.1% (pcp) coming in at 41,080. On the other hand, passengers from Korea topped the charts with a solid 14.3% growth (pcp) passenger count coming at 8,248.

As per the Aircraft Movements, the international aircraft movements and domestic aircraft movements reported 1.1% and 7.4% change in the month of February 2019, as compared to the previous corresponding period.

In terms of MCTOW (tonnes), international MCTOW and domestic MCTOW reported -1.3% and 4.4% change in the total tonnes in February 2019, as compared to the previous corresponding period. The international export increased by 1.7% pcp and import decreased by 1.5% pcp in February 2019.

Queenstown Airport:

Total international passengers and domestic passengers reported an increase of 13.7% and 10.2% pcp to 49,331 and 148,904 passengers in the month of February 2019. In terms of aircraft movements, the international aircraft movements and domestic aircraft movements reported an increase of 23.8% and 15.0% pcp in the month of February 2019.

On the stock information front, at market close on April 16, 2019, the stock of Auckland International was trading at $7.53, down 0.265% with a market capitalisation of $9.15 billion. Its current PE multiple is at 15.47x, and its last EPS was noted at 0.488 AUD. Its annual dividend yield has been noted at 2.72%. Today, it touched a day’s high at $7.55 and day’s low at $7.48, with a daily volume of 114,636. Its 52 weeks high was at $8.14 and 52 weeks low at $5.71, with an average volume of 122,597. Its absolute return for five years, one year, six months, and three months are 105.72%, 25%, 19.84%, and 10.38%, respectively.



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