Auckland International Airport (AIA) H2 2026 earnings summary

Executive summary

• Total passenger movements reached 19.04 million, up 1.6–2% year-over-year, with both domestic and international segments growing.

• Revenue increased 3% to NZD 1,036 million, driven by higher passenger numbers and commercial activity.

• Operating EBITDAFI rose 3% to NZD 724 million; underlying profit after tax was NZD 309 million, down 0.5% due to higher depreciation.

• Over NZD 1 billion in capital expenditure delivered, with major progress on terminal integration, airfield upgrades, and infrastructure projects.

• Customer satisfaction improved to 83.5%, with operational efficiencies reducing processing times and a 4.4/5 Voice of the Customer score.

Financial highlights

• Full-year revenue was NZD 1,036 million (+3% year-on-year); EBITDAFI was NZD 724 million (+3%).

• Net underlying profit after tax was NZD 309 million, essentially flat year-on-year; reported profit after tax fell 20% to NZD 335 million due to fair value adjustments.

• Commercial income up 2% to NZD 442 million, with car park and rental income up 9% and 4% respectively, while retail income declined 4%.

• Declared a final dividend of NZD 0.0675 per share, bringing the full-year distribution to NZD 0.1325, unchanged from the prior year.

• Cashflow from operations was NZD 503.4 million, up 6% year-on-year.

Outlook and guidance

• Underlying earnings guidance for FY27 is NZD 290–330 million, based on passenger forecasts of 8.3 million domestic and 10.8 million international travelers.

• Capital expenditure guidance for FY27 is NZD 1–1.3 billion, with continued focus on terminal integration and infrastructure delivery.

• Flight and passenger volumes expected to remain relatively flat in FY27 due to fuel price volatility and geopolitical instability.