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Tim Brown: Selling the airport shares would provide insurance in the case of a major earthquake

Publish Date
Tue, 10 Oct 2023, 11:19am
Wellington Airport. Photo / Bevan Conley
Wellington Airport. Photo / Bevan Conley

Tim Brown: Selling the airport shares would provide insurance in the case of a major earthquake

Publish Date
Tue, 10 Oct 2023, 11:19am

A Wellington City Councillor wants to take a leaf out of Auckland's book, encouraging the council to sell its airport shares.

Wellington City Council has a 34 percent stake in the capital's airport.

And Auckland Council recently sold seven percent of shares in Auckland Airport, to bring debt down.

Councillor and former Airport Chair Tim Brown says this would provide insurance in the case of a major earthquake.

He says Auckland encountered a massive storm with billions of dollars worth of damage, and people trying to find out how they'll cope.

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