Airservices Australia has predicted a net profit after tax (NPAT) of $59.2 million for the 2017-18 financial year.
According to the Airservices 2017-18 Corporate Plan, the NPAT is based on predicted revenue of $1092.7 million dollars and expenses of $986.3 million.
Airservices Chairman Air Chief Marshal Sir Angus Houston AK, AFC (Ret’d) said the financial performance could be credited to the recent restructure initiated by CEO Jason Harfield, and that Airservices did not expect to raise air navigation charges for the year.
"The step-change in the effectiveness and efficiency of our corporate operations has reduced our cost base," Sir Angus said in his introduction, "ensuring that our financial performance remains sustainable into the future. More importantly, it has built new capabilities and embedded new ways of working into our culture, enabling us to continually improve in the fulfilment of our statutory functions.
"We are funded for our services through charges levied on our customers and capital raised from debt markets. Our position as Australia’s air navigation service provider gives us a unique, whole-of-industry perspective and also makes us acutely aware of the financial constraints within which our customers operate.
"In 2016 we deferred consideration of a new pricing agreement, and the prices we have in place today are the same as they were in July 2015. Our goal is to continue to deliver real price decreases and improved value to our customers."
The Corporate Plan also outlines an expected capital investment in air navigation services of $936 million over the period 2017-18 to 2021-22, of which the new OneSKY air traffic management system accounts for $652 million or 69%.
The complete corporate plan is available on the Airservices website.