Asset valuation for Henderson Airport guides long term planning

The valuation and renewals forecast we completed for Henderson Airport has helped the airport to establish the airport’s current baseline asset value.

Henderson Airport provides the international and domestic air services for Honiara, and is Solomon Islands’ busiest airport.

The Solomon Islands Government (SIG) has embarked on a reform of its aviation sector, with a view to improving the operation and maintenance of the island’s airports and making aviation assets more reliable, safe and affordable.

Key to this is establishing the current baseline asset value, including identifying and valuing the Solomon Islands Government’s airport assets. In late 2011, the New Zealand Ministry of Foreign Affairs and Trade commissioned WSP Opus to complete a valuation and renewals forecast of the airport infrastructure assets, from first principles.

The project established an asset inventory, identified the present condition of the various airport assets and provided a baseline value. The results of our onsite condition assessment were used to forecast the minimum it would cost to renew airport assets over the next 20 years.

An international multidisciplinary team was assembled to provide the professional skills to cover the wide range of infrastructure assets. Airports are comprised of a myriad of network systems and engineered technologies, and have particular operating requirements that impact upon the way maintenance, reconstruction and development happens.

We have experience in the valuation of airports for financial reporting, insurance and asset valuation, in Australia at Sydney, Perth, and Darwin, and in New Zealand at Wellington, Auckland, Christchurch, Dunedin, Invercargill, Nelson and Whangarei. We have also worked with airport companies, airlines, and a competition regulator.