The company's statistics were supportive of recent comments on the acceleration in international passenger numbers through Auckland airport.
''This increase in international traffic throughput will flow through to the bottom line from the flow-on passenger service charges and duty-free retail-oriented income. I see scope for market upgrades if this continues,'' Mr Rooney said.
The company reported international passenger volumes, excluding transit passengers, were up 6% at Auckland airport in September compared with the corresponding month last year.
That resulted in 34,000 additional passengers, the majority coming from the American and Tasman routes (13,000 and 17,000 respectively). American growth was again driven by additional capacity on all North American routes, the company said.
Tasman growth was fuelled by extra capacity and increased average loadings on Melbourne, Brisbane and Sydney routes.
International passenger numbers at Queenstown Airport were up 64.7% in September from last year. Mr Rooney said the passenger growth was driven by additions to both Jetstar's and Air New Zealand's transtasman schedules, with additional services to Sydney, Brisbane and Melbourne on Jetstar and to Sydney and Melbourne on Air New Zealand.
In September there were 31,319 international passenger movements through Queenstown Airport compared to 19,017 in September last year. In the financial year to date, 119,322 passenger movements were recorded, up 28.7%. Domestic passenger numbers fell 8.4% to 69,870 in the month.
''Queenstown is a small part of Auckland airport but international growth remains strong and will continue to climb with the recent addition of transtasman routes by both Air New Zealand and Jetstar. Domestic activity is down, I suspect, given the Jetstar route changes.''
On a 12-month time frame, Forsyth Barr saw limited scope for further share price rises.
However, the sharebroker viewed Auckland airport's outlook as positive.
The company was a high-quality, high-margin business with a strong industry position and a solid earnings growth profile, Mr Rooney said.
Moreover, its non-aeronautical revenues were also primarily driven by passenger numbers.
''Auckland airport has demonstrated its resilience through a challenging period and is a low-risk exposure to the New Zealand tourism recovery and growth story. We believe the New Zealand tourism outlook remains robust over the long term,'' he said.
