Govt, banks kick in $10.5m ahead of prospective Ruapehu sale

North Island ski fields should be open this winter. (Image: RAL)

Tue, 16 May 2023

New private operators have been shoulder tapped by the government to run Mt Ruapehu’s Tūroa and Whakapapa ski fields.The previous operator, not-for-profit operator Ruapehu Alpine Lifts (RAL), moved into voluntary administration in October, owing about $45 million to the government, ANZ bank and bondholders in RAL’s Sky Waka gondola.The company's failure was hastened by the covid lockdowns and poor snow conditions on the back of La Niña weather conditions over the past few years.Since October, the Ministry of Business, Inn...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket continues sliding, down 0.5%

The S&P/NZX 50 Index closed at 12,692.72, down 68.47 points or 0.54%.

Graham Skellern 6:15pm

Politics

NZGIF chair resigns as ministers look for change

Tarrant said she was 'respecting the ministers' desire for new leadership.

Ian Llewellyn 5:30pm

NZGIF chair resigns as ministers look for change

Policy

ACC under review as levies rise

The review aims to speed up rehabilitation times.

Jem Traylen 3:45pm

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

Boost worker health, boost results

Research shows flexible workspaces improve health and productivity

Regus

More Property

Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024