Wellington council to consult public on airport sale

Wellingtonians will get their say on whether the council should sell its shares in the airport. (Image: Getty)

Thu, 09 Nov 2023

Wellington city council has voted to consult with the public on selling its 34% stake in the airport, worth $278 million.It will also consult on whether to sell its ground leases worth $245m.Both are considered important revenue streams, but there is concern they are effectively the only two investments in the council’s portfolio.“It is not well diversified and is highly exposed to situations like the covid-19 pandemic," council documents said. "The investment portfolio could not be easily utilised in a disaster, such as a...

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