Strategic Partnership With Auckland Airport
On 8 July 2010, Auckland International Airport Limited, the operator of Auckland Airport, announced it had entered into an agreement to take a 24.99% shareholding in Queenstown Airport Corporation Limited and form a strategic alliance between the two airports. The shareholding will cost NZ$27.7 million, through the issue of new shares. The alliance is expected to generate an extra 176,000 passengers through Queenstown Airport. Auckland Airport has an option to increase its shareholding in Queenstown Airport to 30-35% at any time up to 30 June 2011, subject to the approval of the Queenstown Lakes District Council. The new share capital from would allow Queenstown Airport to fund growth of the airport's operating capacity and to pay regular dividends back to the community via the Queenstown Lakes District Council shareholding.
Read more about this topic: Queenstown Airport
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