New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Auckland Airport (AIA) is lodging an appeal with the High Court, together with Wellington and Christchurch airports, and separately via the NZ Airports Association, against the Commerce Commission's (ComCom) recent Input Methodologies (IM) decision.</li><li>Details of the appeals are not public, but given the interest and changes made by the ComCom through the IM review process last year in its assessment of the asset beta for airports, we expect this will be a key area of the appeals. </li><li>The current regulatory regime for airports is favourable for AIA, providing a high RAB (regulatory asset base) multiple (we currently assume ~2.0x) for its aeronautical assets. </li></ul>

Auckland Airport (AIA) is lodging an appeal with the High Court, together with Wellington and Christchurch airports, and separately via the NZ Airports Association, against the Commerce Commission's (ComCom) recent Input Methodologies (IM) decision.Details of the appeals are not public, but given the interest and changes made by the ComCom through the IM review process last year in its assessment of the asset beta for airports, we expect this will be a key area of the appeals. The current regulatory regime for airports is favourable for AIA, providing a high RAB (regulatory asset base) multiple (we currently assume ~2.0x) for its aeronautical assets. 

Auckland Intl Airport

Auckland Airport - Reviewing the Merits