$7m for RAL is final bailout, say ministers

$7m for RAL is final bailout, say ministers
Slippery slope? Regional development minister Shane Jones pledges this bailout will be the last. (Image: RAL)
Staff reporters
The operator of the Whakapapa ski field has received another government bailout, but regional development minister Shane Jones insists it is the last one.Cabinet has agreed to provide $7 million of financial support to Ruapehu Alpine Lifts (RAL), Jones announced Wednesday afternoon. It also pledged to provide $3.05m in equity and loan funding to enable the sale of Tūroa ski field assets to Pure Tūroa Ltd (PTL), a company owned by property developer Cam Robertson and businessman Greg Hickman.For the past 17 months insolvent, not-for-profit opera...

More Tourism

Receivers expose $46m of debt behind luxury Queenstown hotel
Tourism

Receivers expose $46m of debt behind luxury Queenstown hotel

The Carlin was crowned the world's best new boutique hotel in 2022. 

Gregor Thompson 06 May 2024
Tourism Holdings shares tank after guidance cut
Markets

Tourism Holdings shares tank after guidance cut

Tourism Holdings lowered net profit guidance for the current financial year by a third.

Gregor Thompson 06 May 2024
Millennium & Copthorne plans new hotel in Whangārei CBD
Listed Companies

Millennium & Copthorne plans new hotel in Whangārei CBD

The company has a site under contract for $2.24 million.

John Anthony 26 Apr 2024
AJ Hackett Bungy spins out tech startup EpicShot
Technology

AJ Hackett Bungy spins out tech startup EpicShot

EpicShot uses iPhones and specialised apps to shoot pics and film of customers.

Ben Moore 18 Apr 2024