Concerns over the effect of the global credit crunch on international tourism have prompted New Zealand's Auckland International Airport (AIA) to delay a decision on the third phase of its terminal's upgrade.
The NZD$200m Stage 3B will bring the baggage hall, customs, MAF biosecurity secondary screening area and the arrivals concourse up to a newly developed first floor at the centre of the international terminal.
Last year, AIA announced the project would be brought forward 18 months to allow it to be complete by the time New Zealand hosts the 2011 Rugby World Cup.
However, a decision on when to begin the third stage has been delayed by up to a year due to current instability in the world's financial markets.
Airport Chief Executive Don Huse says over the next twelve months the airport will examine how the existing facilities perform and will allow a decision to be made on the optimal timing to bring new facilities on line.
"Furthermore, this deferral will allow Auckland Airport to gain greater certainty in relation to the appropriate returns from this very substantial project, given that the regulatory environment for airport in New Zealand is currently being reviewed," Huse says in a statement to the stock exchange.
"Finally the company is also cognisant of the current global economic environment and the impact the 'credit crunch' may have on passenger volumes in the short-term."
AIA expects to handle 25 million passengers by 2025.
By Elizabeth Clifford-Marsh
Related links
Auckland International Airport (AKL/NZAA)
