Nelson Airport Pays $1.3 million Dividend to Region’s Councils

Nelson Airport has released its Annual Report for the 2024 financial year, reporting an Operating Profit (or EBITDA) of $11.1 million and declaration of a $1.3 million dividend to Infrastructure Holdings Ltd, jointly owned by the Nelson City and Tasman District councils.

The airport’s after-tax result was negatively impacted by the Government’s removal of tax depreciation on commercial buildings. This tax change resulted in a one-off non-cash impact on the airport, leading to a post-tax deficit of $3.6 million.

Nelson Airport Ltd Board Chair Quinton Hall said the financial result, a 15.6% increase in EBITDA on the previous financial year, was particularly pleasing to have achieved against a backdrop of high interest rates, slow economic growth, rising airfares and aircraft reliability challenges. 

“Passenger numbers were flat compared with FY2023. However, strong overall revenues and cost management supported the financial result and a record dividend payment to the councils for the benefit of the wider Nelson-Tasman community.”

Quinton said despite the challenges it had been a year of improvement across all areas of the airport. Achievements from the year included:
•    Completion of two new buildings– the first new builds Nelson Airport has undertaken for individual tenants

•     Resolution of legacy issues including the elimination of asbestos in the World War II-era Hangar 2 building and seismic strengthening of Hangar 27

•    Safety and aesthetic upgrades at both ends of the terminal, with a new footpath from the Value Carpark to the terminal, a new bike shelter and pedestrian and vehicle safety improvements

•    Commencement of the first major stormwater upgrade at the airport in 60 years

•    Maintaining Nelson Airport’s “Excellent” customer satisfaction rating in the 2024 Customer Survey

“We have also completed our first Climate Report, released alongside our Annual Report. This is a milestone in the airport’s journey to understand and analyse the climate risks we face. It outlines some of the work we’re doing to support aviation’s transition to a low-carbon future, as well as to contribute to better environmental outcomes for the region.”

Nelson Airport is not covered by the Government’s mandatory climate-related disclosures legislation but has committed to voluntary reporting on its climate risks and opportunities, guided by the NZ Climate Standards. It is working towards full voluntary compliance with the disclosure standards by the 2026 financial year.