BUZZ-Morningstar cuts FY26 profit estimate for Auckland Airport as passenger growth lags

Reuters12-19

** Morningstar lowers FY26 net profit estimate for Auckland International Airport AIA.NZ by 4% to NZ$305 million ($176.08 million), citing weaker near-term outlook for international passengers

** AIA on Monday reported a 1% climb in total international passenger growth as at Nov-end, fairly below Morningstar's expectation of 5% growth

** Morningstar says the scale of AIA's pending capital expenditure plan is reasonable, supported by the airport's balance sheet and aligned with other global airports

** Investment research firm expects easing of Air New Zealand's AIR.NZ engine issues from FY28 and improving economic conditions from next year to boost passenger growth in the coming years

** AIA down 6.6% YTD

($1 = 1.7322 New Zealand dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))

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