Queenstown Airport profits plummet during turbulent year
A massive 91 per cent drop in net profit reflects a turbulent year for Queenstown Airport Corporation.
The company's annual results for the year ending June 30 underscored the complex and uncertain operating environment created by Covid-19, board chairwoman Adrienne Young-Cooper said.
Total passenger movements (arrivals and departures) were down 29 per cent compared to the year before and 42 per cent compared to the year ended June 30, 2019.
Net profit dropped 91 per cent to $1.6 million from $18m last year and total revenue was down 40 per cent to $27.8m.
No annual divided would be paid to shareholders.
The Neighbourhood’s Brainiest: Can YOU Solve Today’s Riddle?
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Ryman’s Walk in Wednesdays
Ryman villages across the country are open every Wednesday in November.
Experience the Ryman lifestyle and learn about our living options, tour our showhomes and discover the wonderful amenities on offer.
Click to find out more information.
This week's prize winners!
Congrats to the winners of the $100 Grocery vouchers:
Lynette Baker from Palmerston North
Maurice Higgs from Nelson
Rafael Laverde from Miramar
Janet Atkinson from Masterton
If you're a winner, get in touch here before 26th November.
Not a winner this week? There's always next week!
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