Wellington airport says it will review its fee structure in consultation with airlines after the New Zealand Commerce Commission found its profits to be "excessive".
The airport says it will soon begin consultation with airlines over charges for terminal and runway services from 1 April 2014.
In February, the NZCC projected that the airport would earn return on assets of 12.3-15.2% between 2012 and 2017, higher than the 7.1-8% it considered reasonable.
Releasing its 2013 performance results, the airport recorded a return on its aeronautical assets of 6.23%, a figure under the commission's benchmark.
The airport says that the NZCC's concerns were primarily over projected higher returns in 2015 and as such it will review its pricing structure for the year prior.
"This is to ensure that future prices, beyond 2014/15, are also in line with the Commission's acceptable range," says chief executive Steve Sanderson.
The airport adds that it is planning to undertake NZ$200 million ($157 million) in investments over the next five years, including a major expansion of the main terminal, improved gate facilities and improved airfield engineering.
In addition, the airport announced earlier this year that it was studying the feasibility of extending its runway by 300m to allow for possible direct services from Asia. The airport presently only has domestic and limited international services.
Wellington airport is 66% owned by diversified infrastructure group Infratil, with the remaining shares held by Wellington City Council.