Yes, the figures do seem to be a bit yo-yo like but, the frieght does seem to be on a general upward trend and if rumours are to be believed... well we'll find out if and when it happens. As for passengers, there doesn't seem to be any info on this years up take (as you might expect), but I would guess that experiences from last year would reflect on this years figures.
When Infratil took over at MSE they took over a buisiness that was in effect dead. No income at all (apart from TG Aviation) and things could only go up. The make or break in my mind is if they can create enough of a good reputation too keep the upward trend going before the money runs out.