Manukau consultation on shares to go ahead

Manukau City Council will continue with community consultation about its shareholding in Auckland International Airport Limited (AIAL).

The council has a 10.05 per cent shareholding in AIAL. Dubai Aerospace Enterprise (DAE) has put forward a proposal for a majority shareholding in the airport. As a result of this proposal, and other interest shown in the airport company, the council is carrying out community consultation on the structure of its shareholding.

AIAL has announced that it had received a notice from DAE asking for talks.

Manukau Mayor Sir Barry Curtis says that the council's consultation process will still go ahead.

"Any discussions around the DAE proposal at present are between DAE and the airport company. The only involvement the council would have regarding the DAE proposal is at the AIAL shareholder meeting in November," Sir Barry says.

The council wants to be able to respond appropriately to opportunities, both present and future, for its shareholding.

"There is considerable interest from other parties in the company. Given that, and the strong views that this interest has generated, the council will put forward a proposal on how it should proceed in managing its airport shareholding.

The consultation process is scheduled for September / October, with public submissions to be considered by council before it decides how to respond to DAE's offer, should it proceed, and any other opportunities that might be presented.

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ENDS

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