Christchurch International Airport Limited (CIAL) Analysis

Overview

Christchurch International Airport Limited (CIAL) is the owner and operator of Christchurch International Airport (Airport). Primarily, CIAL is responsible for the efficient and safe operation of the Airport, whilst aiming to provide the Airport's diversity of users with modern, appropriate and efficient facilities and services.

The Crown (i.e. the New Zealand Government) has a 25% shareholding in CIAL and such ownership is exercised through two shareholding Ministers, being the Minister of Finance and the Minister for State-Owned Enterprises (who each hold 12.5%). The remaining 75% is owned by Christchurch City Holdings Limited, a 100% owned subsidiary of the Christchurch City Council.

The Airport is located 10 kilometres northwest of Christchurch city centre, on the western city development edge and is a critical piece of significant national and regional infrastructure. As the gateway for Christchurch and the South Island, the Airport is New Zealand's second largest airport and is the busiest air connection for South Island trade and tourism markets.

There are four airlines providing domestic services from the Airport, and nine operating short and long-haul international services. CIAL welcomed more than 6.5 million passengers in the 2017 financial year.

The Airport owns or leases (in perpetuity) around 1,000 hectares of land, which includes:

- a two-runway system (that are not subject to any curfew) with a main runway and a cross wind runway that intersects the main runway;

- the recently developed CIAL terminal complex; and

- infrastructure and airfields.

The Airport is one of only two in New Zealand capable of handling direct long-haul international services operated by "wide-bodied" aircraft. (i.e. direct services to international destinations other than Australia).

Within the Airport terminal, CIAL leases space to a wide variety of businesses including airline operators, duty free shops, food outlets, retail and rental car operators. The Airport also has car parking facilities, and significant ground and property leasing activity across the greater airport campus. On the airfield, it leases space to airlines, freight companies, the Canterbury Aero Club and numerous general aviation businesses.

The Airport is also home to the Antarctic research programs of the United States of America and New Zealand, making it one of only five Antarctic gateway cities in the world.

Performance

The following information was extracted from Christchurch International Airport Limited's Full year results released, 27 August 2025

Christchurch International Airport Limited (CIAL) has delivered another year of strong performance, with growth in revenue, profit, dividends and passenger numbers, alongside an expanded asset base.

Highlights

• Total revenue $271.2 million – up 10% on FY24
• Underlying profit after tax $49.7 million – up 19% on FY24

-Total declared annual dividend $44.7 million – up $7.1 million on FY24

-Total passengers 6.39 million (Domestic: 4.83m, International: 1.56m) – up 2.3% on FY24 '

• Stronger trans-Tasman schedule, including a new direct service to Cairns
• Southern Hemisphere’s first electric fire truck introduced
• Winner of the ACI Green Airports Recognition Awards 2025
• Complete reinvention of the food, beverage and retail mix

Financial Performance

FY25 was a year of continued strong performance. Total operating revenue was up 5% to $245.1m, contributing to an underlying operating profit after tax (excluding revaluations of investment property, net loss on disposal of assets, non-cash lease accounting revenue adjustment and deferred tax charge to income) of $49.7m (as reconciled in the table above), up 19% on FY24.