However, even if the decision following a special consultative process was not to issue the additional 10% of new shareholding sought by AIAL, under its constitution, the QAC board could still sell the shares, he said.
On July 8 QAC announced it had created and sold 24.99% of new shareholding to AIAL for $27.7 million.
AIAL is now seeking to increase its shareholding to 35%, which would require community consultation.
Under the constitution, the board has the right to "issue shares (and rights or options to acquire shares) of any class at any time, to any person and in such numbers as the board thinks fit".
Asked if that gave the board the right to issue the shares to AIAL even if the council, through community consultation, did not want it to, Mr Geddes said it was "a little speculative, but theoretically, they could".
"Would they? I very much doubt it."
Mr Geddes said he had spoken to QLDC chief executive Debra Lawson and finance manager Stewart Burns, who agreed it was "most unlikely" the consultation process would be undertaken by the current council, even if it was asked by QAC to start the process now.
The next full council meeting would be held on August 17 and Mr Geddes said, at this stage, he did not anticipate the airport deal being on the agenda.
However, Queenstown Chamber of Commerce chairman Alastair Porter said the chamber expected the matter to be on the next agenda so "all councillors would have the opportunity to express their views" in the open forum.
"We trust that the lack of transparency and consultation with regard to this matter will not be repeated.
"This is the most important business issue that has probably ever faced this town."
Former mayor and member of the recently formed Queenstown Community Strategic Assets Group Warren Cooper yesterday handed Ms Lawson a letter seeking "advice" on the procedure or protocols used by the council to "progress the council approval" of the new shareholding to AIAL.
In the letter Mr Cooper raised concerns about the process used to brief the councillors on the deal, which he believed did not follow procedures required by legislation.
He asked Ms Lawson for an "assurance" the procedures were in accordance with legal requirements.
Failing that, he said he would put the matter before the "Central Government Authorities".
