30 Oct 2009

Airport company looking for more revenue

6:36 pm on 30 October 2009

Auckland International Airport Ltd wants to squeeze more value out of its retail, property and car park operations.

Chief executive Simon Moutter told shareholders at its annual meeting on Thursday that the company expects to make between $93 - $100 million this financial year, amid a slump in air travel.

The company wants to open a terminal hotel in time for the 2011 Rugby World Cup and is not ruling out further property developments on its 1500 hectare site.

Income from non-aviation operations rose from 52% to 55% last year. Mr Moutter says he wants to take that further.

He says a new $125m bond issue will be used to repay bank debt due to expire next March.