Auckland airport’s mega-raise: why so much, so soon?

An artist's impression of Auckland airport after its $6.6 billion upgrade (Image: supplied)

Tue, 17 Sep 2024

Auckland International Airport went to market on Monday morning with one of the largest capital raises of recent times, seeking $1.4 billion.Yet, according to brokers' notes written less than a month ago, when AIA announced its annual result, no such capital raise was judged to be on the cards any time soon and certainly not a raise of this size.Jarden analysts Grant Lowe and Zachary McIntyre wrote in an Aug 23 note to clients that, if anything, the airport’s capex plans seemed to be going slower than anticipated, with as much as $580...

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