Auckland Airport is the largest airport in New Zealand, and Auckland is by far New Zealand’s most populous city. No other airport in the country is likely to outdo Auckland as an international hub.

Air New Zealand, Jetstar and Sounds Air have cancelled all flights for the remainder of the day. New Zealand's other major airports at Christchurch and Auckland are operating as usual.

A sign informing time limits for visitors to the passenger drop-off area outside Dunedin Airport in Momona, New Zealand, Tuesday, Oct. 22, 2024.

Our fair value estimate for Auckland International Airport is NZD 8.00 per share. This implies a fiscal 2025 P/E of 39, an enterprise value/EBITDA of 20, and a dividend yield of 2%.