FIRST CUT: Auckland Airport to cut fees in response to ComCom critique; profit falls

Thu, 21 Feb 2019

By Paul McBeth Feb. 22 (BusinessDesk) - Auckland International Airport will cut fees for airlines in response to criticism the planned hikes to cover the cost of a $1.8 billion infrastructure spend weren't justified. The airport operator made the announcement while reporting an 11 percent decline in first-half profit, due largely to a smaller property valuation gain than a year earlier. Underlying earnings edged up in line with expectations. Auckland Airport has reduced its target return on regulated assets to 6.62 percent from 6.99...

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