Auckland Airport Cautioned of More Job Cuts as Earnings Take a Hit

  • Jul 01, 2020 AEST
  • Team Kalkine

Auckland International Airport (ASX: AIA) shall undertake another round of unspecified numbers of job cuts after reducing its workforce by 25% amid COVID-19, including releasing 90 contractors who were largely connected to the capital programme.

The Airport is anticipated to make a loss of up to $90 million as of 30 June and flight number to fall 80% per day amid COVID-19 pandemic. The losses have largely been a result of write-offs and capital expenditure termination costs during coronavirus. The Airport also announced that other significant items will also affect earnings for the financial year to 30 June 2020.

AIA has responded to the disruption of tourism and aviation market through a comprehensive plan to strengthen liquidity, lower operating costs and suspend or terminate capital expenditure.


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