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Auckland International Airport Ltd (ASX:AIA) reports soaring passenger growth in August

Auckland International Airport Ltd (ASX: AIA) operates the main airport gateway into New Zealand.

In the monthly passenger update for August 2018 the company said that total passenger growth was 6.3% when compared to August 2017. A total of 1.665 million passengers went through Auckland Airport during the month.

International passengers increased by 7.4%, this was largely due to additional capacity on the Asia and Pacific Island routes (an increase of 42,000 seats and 10,000 seats respectively). Australian visitor arrivals were up 5.9% which was a result of the introduction of more convenient flight schedules across the Tasman.

Other highlights included Malaysian passenger growth of 33.6%, Indian passenger growth of 18.8% and US passenger growth of 8.1%. However, Japanese passengers declined by 2.2% and Korean passengers declined by 8.5%.

Auckland Airport’s Queenstown Airport investment was mixed with total passengers up by 7.3% when compared to August 2017, however international passengers were down 0.3%. Approximately 203,000 passengers travelled through Queenstown Airport during August.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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