15 May 2011

Dispute over Auckland airport stake in Queenstown over

7:45 am on 15 May 2011

Auckland International Airport Ltd has welcomed a decision by Air New Zealand and a Queenstown lobby group to end legal action over its stake in Queenstown airport.

The airport company paid almost $28 million for a stake of 24.9% in Queenstown airport last July, with the option to lift that to between 30% - 35%.

But opposition led AIA Ltd to cancel the option to increase the holding in March, and keep it at 25%.

Air New Zealand says that has quelled its concern about AIA's involvement. It also accepted that legal action could be long and expensive.