Wanaka Airport lease finalised
The Queenstown Lakes District Council has finalised the terms of a
$14.5 million, 100 year lease with Queenstown Airport Corporation for Wanaka Airport.
The grant of a long term lease to the corporation was decided by council in April 2017, after considering ownership, governance and management options and community consultation in November
2016.
Wanaka Airport operation, planning, development and governance will transfer to the corporation, which owns Queenstown Airport.
The corporation has been managing day-to-day operations at Wanaka Airport since 2010.
The council remains the owner of Wanaka Airport and the lease agreement includes incentives for the corporation to invest in and develop the facility. The council is also the majority owner of the corporation. Auckland Airport holds 24.99 per cent of the shares.
Queenstown Lakes mayor Jim Boult said both parties were committed to developing Wanaka Airport so it could support district’s growth and wider community needs.
Wanaka Airport was ‘‘a hub of exciting activities’’, a key element in district-wide growth and needed to become an economically viable and sustainable business, Boult said. ‘‘We’d like to thank all members of the Wanaka Airport community for their patience through these lengthy negotiations.
‘‘We believe the outcome will create the best possible foundation for the airport’s future and the role it has to play in our region’s connectivity,’’ he said.
The 100 year lease runs from April 1. The corporation will pay the council $14.5m for the ground lease and related assets.
The lease does not affect or vary the terms of current leases held by commercial operators.
The council retains ownership of airport land containing the council’s wastewater treatment plant, Project Pure.