Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Auckland Airport Shares Remain With Manukau City

by Selwyn Manning

Over $120 million worth of Auckland International Airport shares will remain in public ownership after Manukau City Council voted last night to keep its shareholding.

Manukau City Council decided its shares are a good investment and will continue to increase in value.

Manukau mayor Sir Barry Curtis says his city has a vested interested in the Airport because it is located within the city boundaries. He says the Airport provides employment for Manukau people and is a contributor to the region.

The shares were raised as a sellable item and as a means to raise the cash necessary to rid the City Council of its burdoning debt. It was debated that if the shares were sold debt could be cleared and the remainder reinvested.

This is exactly what Papakura District Council did with its shares. It sold its allocation, reinvested the cash, then used interest earned to fund infrastructural development within that city.

But as was predicted in an exclusive Scoop article on Monday - refer to http://www.scoop.co.nz/stories/AK9907/S00130.htm - Manukau City Council is now eyeing up to purchase another 1.4 percent of Airport shares. This will give it a 10 percent shareholding in the company and that buys it the right for board of directors representation.

The Government sold its 51% stake in Auckland International Airport last year. Waitakere City Council has already sold its shares and Auckland City Council, Rodney District council and North Shore City Council are now all considering what to do with theirs.

Manukau mayor Sir Barry Curtis hopes his council’s decision has created a precedence that will sway the other Auckland councils to keep their shares.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news