June 2018 Monthly traffic update: Auckland International Airport Limited’s (ASX: AIA) stock fell 0.48% on July 24, 2018 after the company released the June 2018 Monthly traffic update. The company during the June month 2018 has witnessed total passenger growth of 2.3%. There is 1.9% rise in International passengers (excl. Transits), however the growth was impacted by the absence this year of the British & Irish Lions rugby tour that took place in June 2017 and Emirates exit from the Tasman. There is 3.8% growth in Domestic passengers due to additional capacity, mainly on the Auckland to Queenstown (up 11.5%) and Auckland to Dunedin (up 13.4%) routes. Moreover, in the year to 30 June 2018, the total passenger numbers grew by 5.7% to 20.5 million, and surpassed the 20 million passengers’ milestone for the first time in a financial year. There is a 4.7% rise in international passengers (excluding transits) to 1.1 million and a 7.7% rise in domestic passengers, partially offset by a 1.2% reduction in transit passengers. Additionally, in June, Virgin Australia had announced that it will operate a new, seasonal three-weekly direct service between Auckland and Newcastle. The service is expected to add 13,000 seats on the route from November 2018 to February 2019. Meanwhile AIA stock has risen 6.71% in three months as on July 23, 2018 and is trading at a P/E of 22.29x.
June 2018 Monthly traffic (Source: Company Reports)[pluginops_form template_id='23834' ]
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