Wanaka Airport ownership agreements could follow in the steps of the Queenstown Airport Corporation's recent deal with Auckland Airport in a bid to raise capital for future developments under a planned council review.
Queenstown Lakes deputy mayor and chairman of the Wanaka Airport Committee John S. Wilson said the airport could be placed in the ownership of a newly formed company.
Wanaka Community Board chairman Lyal Cocks said he had pushed for the Queenstown Lakes District Council to review its shareholding in, and ownership of assets of, the Wanaka Airport this year.
The QLDC retains ownership of the land and assets at Wanaka Airport, although the Queenstown Airport Corporation has management responsibilities for the facility.
The council used to have a similar ownership deal with Queenstown Airport before it formed the Queenstown Airport Corporation and transferred its land-holding assets to the corporation.
Queenstown Airport formed a strategic alliance with Auckland Airport last week, when it sold a 24.99% stake for $27.7 million.
If the QLDC's ownership of Wanaka Airport was reviewed to allow for a holding company or corporation to take over the facility, similar capital-raising ventures could take place to fund future developments at Wanaka's growing airport, Mr Cocks said.
During a time of fiscal belt-tightening by the council, it was a challenge to allocate funds for improvements at Wanaka Airport, Mr Cocks said.
Mr Wilson said money was allocated in the council's 10-year plan for improvements at the airport, including a new terminal.
A holding corporation would not be bound by such limitations and could seek its own means of raising capital, as Queenstown Airport had by way of its strategic alliance with Auckland Airport.
"It's not quite as clear cut as that. But we need to be careful of how we structure the future development of Wanaka Airport given its management responsibilities from Queenstown," Mr Wilson said.
Wanaka Airport wanted to increase its capacity to service commercial carriers and improve on-site facilities, Mr Cocks said.
