Auckland Airport reorganises into three

Wednesday 3rd December 2008

Auckland International Airport, the nation's busiest gateway, is reorganising into three business units, recognizing the growing importance of its property holdings while winding back its engineering unit.

The changes represent a shift away from building infrastructure and capacity after the company expanded its retail space and boosted capacity of its air bridges, said chief executive Simon Moutter.

"The focus will be on people not planes," Moutter said in a statement, which also unveiled the airport company's new leadership team.

Auckland Airport's executive team will include Glenn Wedlock as general manager for aeronautical development and Adrian Littlewood as general manager retail, starting early 2009. The company has also appointed Andrew Pirie as strategic communications adviser. Steve Reindler, general manager for engineering, left last month.

"With tougher global economic conditions and volatile fuel prices influencing likely passenger and airfreight demand, it is critical that Auckland Airport puts significantly more focus on business development activity, partner support and working on new growth strategies," Moutter said.

Shares of the airport company rose 2.4% to NZ$1.68 and are down about 45% this year. The stock is rated a 'hold' by six of nine analysts who follow the stock. Two rate is a 'buy' and one has an 'outperform' rating on the stock.

By Jonathan Underhill

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