Canterbury’s airport-stadium asset sale deal

Christchurch city councillors reportedly shot down the deal. (Image: Deposit Photos)

Tue, 31 Aug 2021

Canterbury’s regional council last year proposed buying a stake of Christchurch International Airport from city authorities. Environment Canterbury (ECan) framed the bid as a way of helping Christchurch city council (CCC) pay for the new Canterbury Multi-Use Arena (CMUA), sources say. Insiders have also suggested the council, which has a strong balance sheet and low debt, was looking for ways to diversify its income stream by investing in a local, dividend-paying asset.CCC owns a 75% stake in the airport through its investment arm, C...

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