Wellington City Council $20.4 million airport dividend shows the foolishness of its proposal to sell off the public’s 34% stake, says Unions Wellington.

The dividend payment was confirmed this week in the release of Wellington International Airport Limited’s 2024 Annual Report.

Unions Wellington spokesperson Sabina Rizos-Shaw says the dividend confirms the airport is a great investment.

"The $20.4 million divided payment equates to $251 for every ratepaying household. This is money that can be used to protect vital services, invest in our city’s infrastructure or to take pressure off households facing double digit rates increases."

"This dividend is twice what the Council’s consultants at KPMG have forecast for next year, which raises serious questions about the accuracy of information given to Councillors and the public as part of the Long Term Plan process."
 

"The argument that the airport is a bad investment has never made any sense, given the other long-term investor, Infratil, is one of the best performing companies on the New Zealand stock exchange."

"The reality is public ownership provides good long-term returns for Wellington. Now is not the time to sell such a well performing asset. Keeping it in public ownership means those profits return to Wellingtonians, not private interests.

Public ownership also gives our city a say on the future of the airport, which will only become more important as we face the challenge of climate change."

Unions Wellington urges Councillors to vote down this misguided proposal and support a continued public ownership stake in Wellington airport.

Councillors will vote on the proposed sale of the public’s 34% stake in the airport as part of the Long Term Plan.

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