Auckland Airport's March-Quarter Passenger Traffic as Expected; Shares Fairly Valued
We’ve raised our fair value estimate for wide-moat Auckland International Airport by 3% to NZD 6.70 (AUD 6.20) due to the time value of money since our last update. The firm’s solid passenger growth reported for the fiscal third quarter was as expected, and we make no changes to our operating assumptions.Year to date, international traffic, including transit passengers, climbed 11% versus the prior comparable period in line with our forecast for fiscal 2017. Traffic growth from Chinese residen...
Auckland International Airport provides airport facilities and supporting infrastructure in Auckland, New Zealand. Co. and its subsidiaries have three reportable segments: Aeronautical, which provides services that facilitate the movement of aircraft, passengers and cargo, and provides utility services that support the airport; Retail, which provides services to the retailers within the terminals and provides car parking facilities for airport staff, visitors and passengers; and Property, which is engaged in the rental of space on airport land outside the terminals including cargo buildings, hangars and stand-alone investment properties.
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