Auckland mayor Wayne Brown proposes selling stake in Auckland Airport

Auckland council had its 22% stake diluted in 2020 when it didn't take part in the airport's pandemic capital-raising. (Image: Auckland Airport)

Dan Brunskill

Fri, 02 Dec 2022

Auckland mayor Wanye Brown has proposed selling the city’s 18% stake in Auckland Airport, which is publicly-listed on the New Zealand stock exchange. The sale of the minority shareholding is part of the recently elected mayor’s 2023-24 budget proposal, which will be put to the council’s governing body next week.Brown said the sale of Auckland council’s shares could raise almost $2 billion which could be used to pay down debt and reduce servicing costs by $88 million.“Over the last three years, ratepayers have...

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