Manukau Council still in control of airport share
22 September 2005
Manukau City Council still in control of airport share
Manukau City Council has transferred Council’s shareholding in Auckland International Airport Limited to Manukau City Investments Limited.
Manukau City Investments Limited is the council-controlled organisation established by Council after public consultation to hold the Airport shares and to assist Council to lower its funding costs for the long-term benefit of Manukau ratepayers.
Council, as the 100% owner of Manukau City Investments Limited’s voting securities, will retain control of the Airport shares. The Mayor, Sir Barry Curtis, says that “Council intends remaining, directly or indirectly, a long-term holder of the Airport shares”.