Hamilton Airport pushes ahead with diversifying revenue streams
The growth of Hamilton Airport and the Waikato region go hand in hand.
The airport is owned by Waikato Regional Airport Limited, which in turn is jointly owned by the councils of Hamilton city, Waikato district, Waipa, Matamata-Piako and Otorohanga in the interests of the economic value it brings to the region.
With passenger numbers for the year ending February 2017 and the year ending February 2018 having increased from around 300,000 to over 340,000, that 13 per cent increase in passenger numbers is a good omen.
Factoring in additional weekly flights to and from Wellington, which was established recently, that means 1100 additional passengers will be passing through the airport each Friday. Airport chief executive Mark Morgan said this will make Friday the airport's busiest day of the week.
Details in Hamilton Airport's general update for March 2018 showed an increased balance between business and leisure travellers using the airport, with business travellers making up a slim majority of 53 per cent. The company was also continuing to diversify its revenue streams, he said. The airport also sits within what it called the "golden triangle" of Cambridge, Te Awamutu and Hamilton.
In January 2018, the airport purchased the Hamilton Airport Hotel and Conference Centre, near the terminal.
Subsidiary company Titanium Park Limited supported commercial development in the strategic geographic area around the airport, too. It was established in 2009 between McConnell Property and Waikato Regional Airport Limited to help foster the development of an innovation park, bringing money, expertise and economic advantages to the region.
In March 2016 the joint venture dissolved by mutual agreement, but Hamilton Airport had continued with the vision for the park.
The company had successfully rezoned a large area of rural and aviation land next to the airport, which was intended to accommodate a balance of commercial, industrial and manufacturing businesses, as well as supporting retail operations.
Titanium Park comprises six precincts, allowing for the establishment of different types and sizes of businesses, and taking advantage of the proximity to the airport to allow access potential for companies involved in aviation.