By DANIEL RIORDAN
Air New Zealand has sold its South Island skifields to a group of New Zealand-based tourism operators, including the skifields' managers, for $27 million.
The new owner of the skifields - Coronet Peak, The Remarkables and Mt Hutt, collectively known as nzski.com - is Southern Alpine Resort Recreation (SARR),
a joint venture comprising:
* Australasian Alpine, formed by the senior management team of nzski.com and Graham Smolenski, the developer and founding director of Millbrook Resort;
* Tourism Milford, owners and operators of the Milford Track Guided Walk and Mt Cook's Hermitage Hotel;
* Trojan Holdings, a Queenstown-based company with diverse tourism interests, transport and resort property development.
The sale follows Air NZ's sale of its Australian-based Jetset Retail travel agency in March for between A$6 million ($7.2 million) and A$7 million ($8.4 million) and the sale of its Jetset Business Travel operations last December for an undisclosed price.
Air NZ managing director Ralph Norris said the airline had entered into a long-term marketing agreement with SARR, and would continue to support the skifields as a key part of the South Island tourism industry.
Air NZ shares closed a cent lower yesterday at 52c.
