Media Release

25 February 2008

Airport’s Board Sells Out

Shareholders should resist pressure from Auckland Airport’s Board to sell out to the Canadian Pension Plan Investment Board, says New Zealand First economic development spokesperson Doug Woolerton.

“New Zealanders have already made it clear they wanted to retain control over the biggest and busiest of our airports. And until now, Auckland Airport’s Board had indicated they were listening,” said Mr Woolerton.

“Auckland Airport is a key part of our infrastructure and it is in the whole nation’s interests to keep Auckland Airport under Kiwi control. It doesn’t matter the size or price of the offer – the bottom line remains the same; we need to retain control over our strategic assets. This is an unfortunate lesson New Zealanders have learnt the hard way.

“Further, Auckland Airport is doing very well – this is the reason why foreign investors want a slice of it. There is no need to sell. The last thing our economy needs is more profits flying offshore to Canada, the Middle East, or anywhere else.

“Despite the board having sold out New Zealand by supporting the Canadians, shareholders have the final say. I strongly urge them to reject the takeover and keep the airport in Kiwi control,” said Mr Woolerton.

ENDS

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