Auckland council won't participate in airport equity raising

Tue, 07 Apr 2020

Auckland Council won’t participate in Auckland International Airport’s $1.2 billion equity raising. “No, we have a limit on what we can borrow, and we have a huge demand on capital investment and infrastructure,” Mayor Phil Goff told Radio New Zealand.According to Goff, it means the council’s shareholding in the Airport will drop “maybe from 20 percent to 18 percent.” Goff said the council’s income will be “sharply down” because of covid-19.Separately, the Australian Financial Review reported Auckland Airport's brokers had mor...

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