Airport Development Group (NT Airports)

AIX interest in NT Airports:

28.2%

NT Airports owns and operates Darwin International Airport, Alice Springs Airport and Tennant Creek Airport. While Alice Springs Airport provides a key gateway to Central Australia for both domestic and international travellers, Darwin Airport creates a vital link between Australia and Asia and is of particular importance as a hub for LCCs.

Performance highlights 2008

NT Airports generated total revenue of $57.3 million and EBITDA of $36.2 million, representing increases of 13.2 percent and 16.0 percent respectively on the prior financial year.

The strong improvement in earnings is largely attributable to the growth in passenger numbers through NT Airports, with total passengers for the year of 2.4 million, representing 7.0 percent growth on the prior financial year. Higher trading and property revenues also supported the key aeronautical revenues.

Of particular note is the record passenger numbers through Darwin International Airport, with international passenger numbers increasing by 12.1 percent and domestic passengers by 8.9 percent compared with the prior financial year.

A strong tourist season and the thriving Northern Territory economy were key drivers of passenger growth.

Performance outlook

NT Airports is pursuing plans for development of the passenger terminal at Darwin International Airport. Further development of this site is expected to increase passenger capacity by approximately 65 percent and deliver greater flexibility to airlines looking to grow route development through Darwin.

Plans are also underway for the development of an 87-hectare business and commercial precinct at Darwin, with Bunnings already in place as the anchor tenant.