Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Hawke’s Bay Airport agreement protects jobs

Rt Hon Winston Peters
Deputy Prime Minister
Minister for State Owned Enterprises

Hon Grant Robertson
Minister of Finance

Hawke’s Bay Airport agreement protects jobs, safeguards terminal development

The Crown will provide a loan to Hawke’s Bay Airport to ensure it can trade through COVID-19 economic impacts, support the region’s recovery and protect up to 200 jobs.

The Crown has a 50 percent shareholding in Hawke’s Bay Airport Limited (HBAL), with Napier City Council holding 26 percent and Hastings District Council 24 percent.

The airport requires financial support of up to $9 million due to reduced passenger numbers and revenue due to COVID-19. The Crown will loan up to $4.5 million on commercial terms, with the councils providing up to a further $4.5 million.

“It’s important that we retain an important regional asset which will enable the Hawke’s Bay to stay connected and support the recovery of the domestic tourism and aviation sectors,” Winston Peters said.

“Hawke’s Bay Airport experienced a significant drop in revenue due to COVID-19. The request was made to shareholders to provide financial support to ensure the airport remained viable and to allow completion of the terminal redevelopment, an important part of the airport expansion project, which was started before the onset of COVID-19.”

“As the major shareholder in Hawke’s Bay Airport it’s appropriate for the Crown to provide a loan to support cashflow,” Grant Robertson said.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

“This ensures the terminal redevelopment can proceed, protecting up to 200 jobs including those of contractors already working on the project. As a Government we support investments that will help our regions and local economies to continue their recovery and to rebuild.”

The loan is expected to be repaid within two years and is considered fiscally neutral. There will be no impact on net core Crown debt over the period of the loan, and the capital expenditure associated with the appropriation will not impact the COVID-19 Response and Recovery Fund.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines



Gordon Campbell: On Dune 2, And Images Of Islam


Depictions of Islam in Western popular culture have rarely been positive, even before 9/11. Five years on from the mosque shootings, this is one of the cultural headwinds that the Muslim community has to battle against. Whatever messages of tolerance and inclusion are offered in daylight, much of our culture tends to be hostile to Islam when we’re sitting in the dark, with popcorn.
Any number of movie examples come to mind, beginning with Rudolf Valentino’s role (over a century ago) as the romantic Arab hero in The Sheik...
More


 
 


Government: One-stop Shop Major Projects On The Fast Track

The Coalition Government’s new one-stop-shop fast track consenting regime for regional and national projects of significance will cut red tape and make it easier for New Zealand to build the infrastructure and major projects needed to get the country moving again... More

ALSO:


Government: GPS 2024: Over $20 Billion To Get Transport Back On Track
Transport Minister Simeon Brown has released the draft Government Policy Statement (GPS) on Land Transport, outlining the Coalition Government’s plan to build and maintain a transport system that enables people to get to where they need to go quickly and safely... More

ALSO:

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.