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Auckland International Airport Limited (ASX:AIA) revealed its monthly traffic figures for the month of December 2018. The Airport facility provider experienced total passenger growth of 2.4% to 1.98 million passengers at Auckland Airport during December 2018 compared to December 2017.
The company managed to achieve growth in overall front despite having a setback in transit movements which recorded a negative change of 3.1%. Moreover, the upside trend in total passengersâ growth at Auckland Airport demonstrates the rising footfall of international passengers primarily driven by the additional capacity on Asia (+38,000 seats), particularly to Indonesia (+21,000 seats) and Singapore (+14,000 seats). In addition, there has been a substantial improvement in North America capacity (+16,000 seats) driven by the increased services to Houston, Honolulu and the new service to Chicago. As a result, the traffic of International Passengersâ surged by 3.3% to 1.05 million compared to 1.01 million in the previous corresponding period. Â
More interestingly, the decent growth has been seen across the companyâs Aircraft Movements, Maximum Certificated Take-Off Weight (MCTOW) and Cargo at Auckland Airport. As per the companyâs information, the international export through Auckland Airportâs Cargo increased by 5.1% to 10,084 tonnes and the international aircraft movements was up by 3.9% to 5,414 in December 2018.
On the front of Queenstown Airport, total passengers grew by 9.6% with international passengers increased by 14.1% to 59,919 and domestic passengers up by 8.0% to 159,374 for the month ended 31 December 2018. The companyâs Aircraft Movements segment at Queenstown Airport increased to 1,728, up 13.7% on 1,520 as in December 2017.
The company has recently announced the selection of Michelle Kong for participation in New Zealandâs prospective Director pool called âFuture Director Programme.â Ms Kong has reportedly been appointed for the term of 18 months to join the programme alongside her current role as General Manager in Fletcher Distribution for New Zealand-based online building and hardware products store Digital Ventures and Snappy.
Auckland Airportâs Chair, Patrick Strange stated that Auckland had experienced significant benefits from the Future Directors that the company has welcomed since joining the programme in 2013. Mr Strange believes that this Programme assists the company to promote leadership diversity with development of governance talent.
Under the Future Director Programme, Ms Kong will have the opportunity to work with Auckland Airport and gain real-world governance experience from a Board who work in a multifaceted and complex environment.
The company further informed that as per the announcement by Hong Kong Airlines, the Airlines would cease its daily Auckland-Hong Kong service effective from 22 May 2019.
AIA has dropped down by 0.705% to trade at $7.040 on 19 February 2019 (2:06 PM AEST). The stock is trading at a Price to Earnings multiple of 14.230 x with a market capitalisation of $8.56 billion. However, over the past 12 months, the stock has gone up as much as 17.97% including a positive price change of 6.94% over the past three months.
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