Auckland International Airport Ltd has reported a fall of 63% in its full year profit to $41.7 million, due to a slump in air travel and a fall in the value of its property.
Excluding one-off costs and unrealised losses on property values, the company made almost $106 million.
The company describes trading conditions as brutal as the global recession deterred people from travelling, while airlines cut flights.
Passenger numbers are still declining, though the company says airlines are cutting airfares and boosting promotions to try to stimulate demand.
Auckland international airport handles about 70% of New Zealand's international arrivals and departures.
Air New Zealand on Thursday reported a 90% fall in profit to $21 million in the year to the end of June.
