High court upholds Commerce Commission’s airport services methodologies for Auckland Airport

Auckland International Airport Limited (AIA) announced on December 22, 2025, that the High Court declined its appeal concerning the Commerce Commission's Airport Services Input Methodologies (IM Review 2023) Amendment Determination, specifically related to the cost of capital. The decision confirms the methodologies set by the Commerce Commission, with further consultations on conceded coding errors expected in 2026. Separately, Air New Zealand and Qantas have also appealed the High Court's decision on a judicial review seeking to quash the 2023 IM Determination.

In a related disclosure dated December 17, 2025, BlackRock, Inc. and its related bodies corporate reported a change in their substantial holding in AIA. Their total percentage held in the class increased to 10.258% from 9.195% in the last disclosure on February 13, 2025. This change involves a total of 173,887,339 ordinary shares and ADRs, up from 154,638,399, reflecting an increased stake amidst the ongoing regulatory developments. The total shares in class also increased from 1,681,824,789 to 1,695,129,603.