However, QAC chief executive Steve Sanderson said the outcome was "better than we anticipated".
The statistics show 548,086 passengers have moved through Queenstown Airport since July last year, compared to 559,091 to March 31, 2008.
"Considering the economic downturn and the benchmark off a five-year growth period, this is a good outcome.
"When we put our grim reaper hat on, we were thinking a 10% reduction and that hasn't happened," Mr Sanderson said.
QAC was "very pleased" with the most recent numbers, particularly when compared with other airports in New Zealand which had shown bigger drops.
International passengers grew 18%, from 55,600 to 65,561, supported by a 19% increase in international flights from the east coast of Australia, from 241 to 287.
"The direct flights from Australia are very well supported and demonstrate the desire of destination travellers to arrive in Queenstown direct.
"I think it ties with Australasia travelling locally. . .
People are still going to go on holiday, but they're choosing to spend their money locally and I count Australia as local.
"[NZSki chief executive] James Coddington has done quite a bit of work in Australia [and] there's a huge campaign by Australia and New Zealand tourism departments to spend your money locally."
Domestic passengers were down for the period by 4% from 503,491 to 482,415, with a 1% increase in flights, from 3020 to 3336.
Mr Sanderson said the increase in the number of flights revolved around more ATR aircraft versus Boeing 737s having been used over the same period previously.
The statistics are released quarterly and the next update, expected at the end of this year, would probably prove interesting reading, Mr Sanderson said.
"Jetstar is a very competitive, low-cost carrier and cost is in people's minds, so that does bring competitive tension.
"Its $29 fares from Sydney [direct to Christchurch] were well received . . . we are very hopeful that Jetstar's Auckland/Christchurch direct to Queenstown [will be popular]."
Mr Sanderson said while Jetstar would be flying domestically initially only to Christchurch and Auckland, QAC was "certainly encouraging" a Wellington direct route, along with possible international flights.
