0003 GMT - Auckland International Airport's passenger traffic has been volatile in recent months but its bull at Macquarie is looking ahead to calmer times. International passengers fell 4% on year in June, while domestic passengers dropped by 5%. These reflect airline capacity reductions, softer conditions in New Zealand, elevated fuel costs and disruptions in the Middle East. Still, Macquarie says "resilient load factors suggest constrained supply, not structural demand loss." It retains an outperform call and 9.31 New Zealand dollars/share price target despite paring its FY26-28 EPS forecasts by 2.2%-4.6%. Auckland International Airport is down 0.6% at NZ$8.50. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 15, 2026 20:03 ET (00:03 GMT)
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