Auckland Airport’s boss has forecast that the previous trans-Tasman bubble will be replaced by a “vaccinated traveller” system as the New Zealand gateway delivered its first full-year underlying loss and outlined new property developments to boost income.

“I think that we should be realistic that a vaccinated traveller pathway rather than the quarantine-free traveller unvaccinated model that was there before is how it’s going to restart, given the outbreak of delta in NSW,” chief executive Adrian Littlewood said.