Auckland Int’ Airport to transform airport with $1.8b investment

Company News

by Jessica Amir

Auckland International Airport Limited (ASX:AIA) is set to invest $1.8 billion in an aeronautical program for the next five years that will transform its airport.

The largest airport in New Zealand says the funds will go towards expanding and upgrading its international departure and check-in areas, building a new domestic jet terminal, and providing three more international gates for the A380 and B787, amongst other things.

Auckland International Airport says the transformation of its airport will support the continued growth of travel and tourism in NZ.

It comes as the company saw a 26 per cent uptick in passengers since 2014, while the number of international airlines has grown by over 60 per cent, in just the last 22 months.

The company currently invests over $1 million in aeronautical infrastructure every working day.

Shares in Auckland International Airport Limited (ASX:AIA) has last traded up 1.01 per cent higher to $6.98.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.