Brown proposes partial airport share sale

Wayne Brown: pushes up rates hike to 7.7%. (Image: Council meeting)

Thu, 08 Jun 2023

Auckland mayor Wayne Brown has backed down on the proposed sale of the Auckland council's entire stake in Auckland International Airport (AIA) and is now proposing to sell 8.09% of its 18.09% holding, enabling it to pay a billion dollars off the council's debt bill. That, he told city councillors at today's budgetary governing body meeting, would still leave $32 million in savings to be found. The shortfall would be made up by an average rates hike of 7.7% for Auckland property owners, which was 1% above inflation.Brown...

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