Hamilton International Airport, which is planning a $22 million runway extension, is just managing to keep flying – financially.
At Hamilton City Council’s finance and audit committee meeting this week, airport chairman Jerry Rickman and chief executive Chris Doak presented the company’s financial position, reported the Waikato Times.
A key point was that no more capital was needed from the (ratepayer funded) shareholding councils apart from the $12 million sought in March.
An interim report showed that the airport was keeping its head above water, recording a net surplus of $47,000 despite a drop in domestic passenger numbers.
However, the figures to March 31 had not taken into account Air New Zealand canning its international schedule in April.
The airport had since secured a new international service with budget carrier Pacific Blue, which starts its first flights in September.
“Yes, it’s a relief, but we worked damn hard to get that,” said Mr Rickman. “And now we have to make sure it works.”
Mr Doak said of plans to extend the runway: “This is about having a future and it’s not about building a runway today. We just have to preserve the option for the future or lose it.”
Councillor Peter Bos signalled some concern about Air New Zealand returning to the international scene to push out any possible threat, such as Pacific Blue.
The $12 million capital call-up is to be paid by next month.
The airport company. Waikato Regional Airport Ltd (WRAL), is owned by five local bodies, Hamilton City Council, Waipa, Waikato, Matamata-Piako and Otorohanga district councils.
The airport’s runway extension proposal is outlined in this post.
