23 Oct 2015

Auckland Airport plans $100 million bond issue

2:38 pm on 23 October 2015

Record numbers of tourists are forcing Auckland International Airport to up its capital spending to expand its airport infrastructure.

Three quarters of international air travellers to and from New Zealand pass through the airport, and to cope with the influx the company is planning to increase capital expenditure by up to 27 percent.

It will expand its terminal and other facilities to accommodate the growth in passengers, and the larger aircraft that are bringing them.

It is also opening up more of its own land for businesses wanting to set up operations close to the airport.

Chief executive Adrian Littlewood said the outlook for the company was strong.

"Our business has remained very resilient over time and we're confident that remains the case with exposure to those growth markets out of Asia and the Pacific Rim."

The company is planning a $100 million bond issue to help fund the higher capital spending.

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