News | Business
23 Jan 2018 13:24
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Days of Xmas
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Auck Airport may sell Nth Queensland stake

    Auckland International Airport is considering its stake in North Queensland Airport.


    Auckland International Airport is still considering its options for its 24.55 per cent stake in North Queensland Airport and expects to give an update in February.

    In the company's annual report released in August, it said that while a strategic review confirmed that NQA was a quality asset "and a great investment with a strong growth strategy and a new and highly capable management team", it wasn't integral to its current business strategy.

    The airport said three options - to continue to hold the stake in the airport, to sell to one or more of the existing NQA shareholders, or to sell to a third party in accordance with the security holders agreement - remain on the table, but it would prefer to sell.

    In August last year, the company lifted annual profit 27 per cent to $332.9 million with growth from domestic and international passengers and said it expected underlying earnings growth in 2018.

    The airport is implementing a massive $1.9 billion infrastructure investment programme that includes a new runway by 2028 and has said it will need to consider capital funding options in the next five years to support the work.

    The shares last traded at $6.61, up 5.8 per cent in the past 12 months.


    NZN




    © 2018 NZN, NZCity


     Other Business News
     23 Jan: Z Energy cuts annual earnings guidance
     23 Jan: NZ needs to fight tax avoidance: Oxfam
     23 Jan: Root pulls out of England team for T20s
     23 Jan: Chch council gets Havelock response update
     22 Jan: NZ shares up as Ryman gains, Fonterra dips
     22 Jan: NZ dollar unchanged as markets watch US
     22 Jan: 'Space is open for business': NZ start-up successfully launches rocket
     Top Stories

    RUGBY RUGBY
    Donald's Ulster deal off after injury More...


    BUSINESS BUSINESS
    Z Energy cuts annual earnings guidance More...



     Today's News

    Politics:
    Nats attack govt over asylum seeker report 13:06

    Law and Order:
    Police officer on indecent assault charge 12:26

    Law and Order:
    Australians arrested in Serbia over $500m drug bust should be released, lawyer says 11:56

    Cricket:
    Pakistan pay for reckless approach: Rance 11:56

    Motoring:
    Flood rescue as thunderstorms hit Auckland 11:06

    Law and Order:
    Woman in court over attempted murder 10:46

    Business:
    Z Energy cuts annual earnings guidance 10:26

    Law and Order:
    Man charged over Melbourne CBD stabbings 10:06

    Law and Order:
    Mongrel Mob gang patches sold online 10:06

    Accident and Emergency:
    NZDF joins search for Kiribati fishermen 9:46


     News Search






    Power Search


    © 2018 New Zealand City Ltd