Queenstown Airport has reported a strong financial result for the year ended 30 June 2026, declaring a total dividend of $20.4 million following a year of record passenger numbers and significant investment in infrastructure and capability.
FY26 Snapshot
- Revenue of $87.1 millio
- Underlying* profit after tax of $34.0 million
- Record total dividend of $20.4 million
- Scheduled aircraft movements totalled 19,678
- Passenger movements totalled 2.82 million
- More than a million international passenger movements
- Named NZ Airports Large Airport of the Year
- Celebrated Queenstown Airport's 90th anniversary
- Approved $65 million programme of airfield improvements
The company recorded an underlying* profit after tax of $34.0 million and handled a record 2.82 million passenger movements during the year, including more than a million international passenger movements for the first time.
Reported profit after tax was $9.1 million. The result was affected by compensation, interest and legal costs associated with a land acquisition, and accelerated depreciation. These adjustments do not affect the company's underlying financial performance.
The Queenstown Lakes District Council, as the majority shareholder, receives $15.3 million of the dividend payment, equivalent to about $470 per ratepayer, and Auckland International Airport, as the minority shareholder, receives $5.1 million. An interim dividend of $7.22 million was paid to shareholders in February and the remainder will be distributed this month.
Queenstown Airport Corporation Chair Simon Flood said the result reflected the balanced approach taken by the business to drive commercial success, operational excellence, and financial returns.
“This has been a notable year for Queenstown Airport, defined by another strong performance by the team and sustained momentum, as we continue to invest in the region's future.”
“Queenstown Airport is a critical piece of regional and national infrastructure, enabling connections between people and places, businesses and markets. The airport also influences about $1 billion in economic activity, underscoring the scale of its contribution and the importance of ensuring the airport continues to be well-planned, well-governed, and well-managed for the future.”
Mr Flood said the airport's 90th anniversary, celebrated during the year, provided an opportunity to reflect on how far the business had come.
“From modest beginnings as a rural airfield, Queenstown Airport has grown into one of New Zealand's most important gateways, connecting communities, supporting regional prosperity, and enabling tourism and trade across the lower South Island and beyond.
“We are proud of our history, and we’ve learned a lot in those 90 years, which gives us a solid foundation on which to build for the future.”
Chief Executive Shane O'Hare said strong passenger demand continued throughout the year.
“In a significant milestone, we recorded more than one million international passenger movements for the first time, highlighting the importance of Australia as a key market and reinforcing Queenstown Airport's role as an international gateway.
“This growth continues to support the vitality of the tourism sector and the wider national economy, enabling businesses, jobs and opportunities across the region.”
Mr O'Hare said detailed planning for the largest-ever capital works programme at Queenstown Airport was well-advanced and delivery was accelerating.
A $65 million programme of airfield improvements – incorporating the construction of a Code C heavy taxiway and a complete overlay of the main runway – has just started and will be completed by summer next year.
Concept designs for a major terminal extension and upgrade are also being developed with leading architects Warren & Mahoney, and Hassell, alongside continued investment in critical operational infrastructure.
“Construction of a Green Star-certified two-storey office building beside Lucas Place is due to start. It will accommodate Queenstown Airport staff and partner agencies, ensuring we have the space and facilities needed to support an increasingly complex operation.”
Mr O’Hare said being named Large Airport of the Year at the 2025 NZ Airports Awards was a highlight.
“This is an honour that reflects not only operational excellence, but also the strength of collaboration across the ZQN community and our commitment to delivering a safe, efficient and world-class experience for everyone who travels through the airport.
“Collaboration remains central to our approach, and I want to acknowledge our four airline partners, Air New Zealand, Qantas, Jetstar and Virgin Australia, for their ongoing commitment to Queenstown and the important role they play in connecting our region to key domestic and global markets.
“We also value the contribution of our general aviation operators, border agencies, Airways and airport tenants, whose work supports the unique mix of aviation activity that defines Queenstown Airport and helps ensure safe, efficient, and reliable operations every day.
“As we look ahead, our goal is clear: to deliver world-class outcomes for our customers while maintaining the trust and confidence of our community. Demand for travel is expected to remain strong, and our focus will be on delivering the infrastructure, partnerships and planning needed to support that growth responsibly,” Mr O'Hare said.
The full annual report is available to download here.
NOTES TO EDITORS
Passenger numbers
Passenger movements include both arriving and departing passengers.
Underlying profit
Underlying profit after tax for the year was $34.0 million, demonstrating the strength of the airport's operating performance. Reported profit after tax was $9.1 million. The reporting of this year’s results reflects a number of exceptional items that, for accounting purposes, are required to be recognised and have reduced our reported net profit. They do not affect the company’s ability to pay a dividend to shareholders. The exceptional items and their impact are explained in the Financial Performance section of the Annual Report.