15 Jul 2010

Queenstown Airport deal raises questions

7:15 am on 15 July 2010

Questions have been raised about a deal to sell part of the Queenstown Airport Corporation to Auckland International Airport.

Last week Auckland Airport purchased a 25% stake in Queenstown's gateway.

Queenstown Lakes District mayor Clive Geddes and Queenstown Airport chairman Mark Taylor told the community it would receive a $10 million special dividend and a $2 million annual dividend.

It's now emerged the dividends are only payable if Auckland Airport increases its share to between 30 and 35%.

Mr Geddes says he's sorry if it appeared the dividend was payable at 25% and he didn't deliberately intend to mislead the community.