Auckland Airport Suspends Earnings Guidance For FY20

Following the international outbreak of COVID-19 and strict new border controls, Auckland Airport has today announced it has suspended earnings guidance for the year to 30 June 2020.

Chief Executive Adrian Littlewood said given the unprecedented scale of the new border restrictions announced over the weekend and uncertainty over the impact on the business, Auckland Airport has withdrawn its earnings and capital expenditure guidance for the current financial year to 30 June 2020.

“Auckland Airport is a strong, diverse and resilient business, but these are unprecedented times,” said Mr Littlewood.

“The health and safety of our community has to come first and we support the Government in its efforts to protect the health of New Zealanders and reduce the threat of transmission of COVID-19.”

Mr Littlewood said Auckland Airport was working to communicate the border changes to the 30 airlines that fly routes to the airport, but it was too early to judge the impact on future passenger and cargo air services.

“Aviation and tourism are vitally important to New Zealand, supporting thousands of businesses and jobs. The future is very uncertain and our industry and government are pulling together so we can manage our way through this period and ensure we are in a strong position to rebuild, when the recovery phase eventuates.

“The focus for Auckland Airport today has to be on maintaining our airfield operations and supporting front line workers and the Ministry of Health in protecting New Zealand against the spread of COVID-19.

“We are working through what the changes mean for our organisation to ensure we remain resilient through this challenging period,” said Mr Littlewood.

Auckland Airport will continue to keep the market updated as significant new information emerges.

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