Queenstown Airport Corporation to lease Wanaka Airport for 100 years under incentivised agreement

Queenstown Lakes District Council (QLDC) finalised (21-Mar-2018) terms of a 100 year lease agreement with Queenstown Airport Corporation (QAC) for Wanaka Airport, effective 01-Apr-2018. Under the agreement, QAC is incentivised to invest in and develop the airport, and will pay QLDC NZD14.5 million (USD10.4 million) for the ground lease and related assets. Lease exclusions include the Project Pure wastewater treatment plant retained by QLDC and current leases held by commercial operators at the airport. QLDC selected QAC in Apr-2017 after several ownership, governance and management options for Wanaka Airport were considered and formally consulted with the community in Nov-2016. [more - original PR]