Hamilton committed to critically important strategic asset

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2009-03-19T00:00:00

19 March 2009

Hamilton Mayor Bob Simcock says the city's payment of $6 million into Hamilton Airport as a 50 per cent shareholder is part of supporting a critically important strategic asset.

Mayor Simcock says while making the payment of previously uncalled capital is not ideal, it needs to be remembered the city has a $30 million investment for which it will have contributed $7.5 million following the $6 million payment.

"We are optimistic that international flights will return to Hamilton in the future, but in the meantime it is essential that we secure the assets that we have through this downturn," he said.

"Hamilton City Council will work with the board and other shareholders to attract an international airline to replace Air New Zealand as soon as possible.

"In the longer term we would like to see investment by an airport operator that is capable of securing a more stable business for shareholders."

The other Hamilton Airport shareholders which make up the remaining 50 per cent ownership, Waikato District Council, Waipa District Council, Matamata-Piako District Council and Otorohanga District Council will combine with a further $6 million of uncalled capital.

FOR MORE INFORMATION CONTACT:  
 
Name: Bob Simcock
Designation: Hamilton Mayor
Tel (Direct): 07 838 6976
Mobile: 021 991 071  
 
Name: Philip Burton
Designation: General Manager Communication and Marketing
Tel (Direct): 07 838 6507
Mobile: 021 428 748
Page reviewed: 19 Mar 2009 12:00am