Air Your Views -- Auckland City Counci

Auckland City Council is asking the public for their views on the future of the council's stake in Auckland Airport.

The council owns a 12.75 per cent shareholding in the airport, an integral part of the region's transport system.

Finance and Corporate Business Committee chairperson Councillor Vern Walsh says the council has received several approaches about its stake in the airport and is likely to have a number of options to consider in the near future.

Some of these options are likely to include:

* the council selling its shares
* the council maintaining its current level of investment in the airport while restructuring its shareholding
* the council increasing or decreasing its stake in the airport.

Mr Walsh says the council does not favour any one option, and adds that it will also consider doing nothing or simply transferring the council's shares to a council-controlled holding company.

"The council has not received any firm proposals or made any decisions, but needs to be able to respond quickly to opportunities if doing so is in the best long-term interests of residents and ratepayers."

Under the Local Government Act 2002, the council can only transfer ownership or control of its airport shareholding if the decision is included in its 10-year plan. The council is therefore carrying out consultation on whether or not to make an amendment to its long-term plan.

"We have an important decision to make and we want your feedback" says Mr Walsh.

The council is the airport's largest single shareholder. Its shares are currently worth about $495 million. In 2002 the council made a decision to sell its shareholding (then 25.5 per cent), but due to commercial conditions only sold half the shares.

The public are also being asked to consider a set of six criteria that the council will assess its options against.

For more details on the options being considered and to get a feedback form go to www.aucklandcity.govt.nz/airportshares , visit any of our libraries or service centres, read a copy of this weekend's City Scene, or phone 379 2020.

Submissions close at 5pm on 15 August with hearings scheduled for 27 August.

ENDS

© Scoop Media