Auckland council will use airport shares to capitalise future fund

Auckland council will use airport shares to capitalise future fund
The council holds an 11% stake in Auckland International Airport. (Image: Getty)
Staff reporters
Auckland council will transfer its remaining shareholding in Auckland International Airport to a newly established Auckland Future Fund.Auckland mayor Wayne Brown went into the long-term plan (LTP) process, wanting to capitalise on the proposed fund by selling a lease to the Port of Auckland.That option was taken off the table earlier this month, with the port instead promising to return higher levels of earnings over the coming decade and return two central wharves for public use.The council budget committee and governing body met on Thursday...

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