Citi expects NZ's Auckland International Airport to meet full-year profit forecast

Auckland International Airport

15/05/2024 20:01

** Analysts at Citi expect New Zealand's Auckland
International Airport  AIA.NZ  to meet its full-year profit
forecast, despite weak April traffic
    ** Airport operator on Wednesday posted total passenger
volumes for April at 1.53 mln, down from 1.69 mln in March
    ** Brokerage sees FY net profit after tax for AIA to be
towards the top end of its NZ$260 mln ($158.96 mln) to NZ$280
mln forecast range, citing "potential conservatism in guidance" 
 
    ** However, Citi flags that AIA's FY24 passenger volume
forecasts for both domestic and international segments may now
be difficult to achieve
    ** Two of 10 analysts rate the stock "buy", four "hold" and
four "sell"; their median PT is NZ$8.20 – LSEG data
    ** Stock down 13.1% YTD, based on last close


($1 = 1.6356 New Zealand dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))