12 Dec 2013

Tribe takes stake in Invercargill Airport

7:33 pm on 12 December 2013

Four runaka of Ngai Tahu have taken a stake in Invercargill Airport.

The Crown has offloaded its shareholding of 2.82% because it's never made money from its investment.

The iwi paid $5600.

Invercargill City Council continues to hold the majority share in the airport of 97.18%.

The tribe was offered the stake ahead of any other company under a Treaty clause inserted into the Ngai Tahu Deed of Settlement.

It gives Ngai Tahu the first right of refusal to property being sold by the Crown.