Commerce Commission report finds Auckland Airport overcharging

Auckland Airport is lowering its prices after the Commerce Commission said it was overcharging by $190 million. The Commission has today published its final report on Auckland Airport's 2022-2027 price setting event, concluding the Airport's forecast revenue is excessive and its targeted returns are unreasonably high. The Commission says businesses and consumers are the ones likely carrying much of this cost-burden. Last year Air New Zealand said the airport's charges were expected to add about $46 to the price of a domestic ticket by 2032. Last year the Commission issued a draft report suggesting prices were too high - and Auckland Airport said it would consider lowering them once the final report came through. Today, that report confirms the findings and as a result Auckland Airport said it would drop prices for the remaining two years of the price period. Commissioner Vhari McWha talks to Kathryn.