16 May 2013

Airport profit up 81%

6:48 pm on 16 May 2013

Wellington International Airport Ltd has boosted its annual net profit by 81%, but says its returns are well below the Commerce Commission's benchmark.

Net profit rose to $16.2 million for the year ending March - compared with $9 million the previous year.

The airport company said underlying operating earnings rose 9.8% to $82.9 million.

Earlier this year, the Commerce Commission found Wellington Airport was earning millions of dollars more than was reasonable.

But airport chair David Newman denies that this year's result is excessive.