$7m for RAL is final bailout, say ministers

Slippery slope? Regional development minister Shane Jones pledges this bailout will be the last. (Image: RAL)

Wed, 13 Mar 2024

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...

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