KEY POINTS:
The gateway to New Zealand will continue to grow regardless of who owns Auckland International Airport.
A spokeswoman said yesterday any deal to sell the company would be based on a founding principle that existing expansion and development plans go ahead.
Middle East company Dubai Aerospace Enterprise has
made a $2.6 billion offer for a controlling stake in the airport, which has sparked controversy over whether strategic assets should be sold to overseas interests.
At least three other companies are expected to table bids before shareholders vote on the Dubai bid in November.
The bid by DAE gives the airport a market value of almost $4.7 billion.
That value is largely because of the land the airport owns and the capacity and potential for development.
"The master plan is an integral part of the strategy and is supported by DAE within the terms of the merger implementation agreement, so it's business as usual," an airport company spokeswoman said.
The airport - which contributes about $19 billion to the economy annually - has about 1130ha of land designated for airport use.
The airport company owns another 194ha outside the designated area, which can be used for activities connected to or ancillary to the operation of the airport.
Among plans are a second runway, improved transport links, such as rail, with Manukau and Auckland cities, at least two hotels and other commercial and retail development.
If the Dubai company is bound by the existing master plan, it is expected that construction of a second runway would begin by 2010.
The runway has planning permission for a 2150m stretch north of the existing main runway (which is 3635m). It would handle smaller aircraft and be developed in stages.
There is also room for another airline maintenance base and land north of the second runway is available for commercial development.
Commercial business - mainly property, retail and carparking - delivers more than half the company's revenue.
DAE is refusing to talk about how it would adopt and adapt the development plans.
But a spokeswoman said yesterday a controlling stake would allow it to "enhance and accelerate" the plans.
The full detail will be released when DAE sends out its prospectus to shareholders in October, a month before they vote on the proposed deal.
DAE's $3.80 a share offer is attractive and has won the airport board's support.
But it must be approved by the Government and is likely to need the backing of Auckland and Manukau City Councils, which own almost 23 per cent of the airport between them.
Announcing the proposal, DAE chief executive Bob Johnson said he would not expect passengers at the airport to notice any immediate change if the ownership structure changed.
But in the longer term there was potential for investment in technology, including security, which could improve the airport experience for passengers and speed up transit times.
The airport is Australasia's second-busiest for international passengers.
It boasts 11 million passengers (including domestic) each year and 158,000 aircraft fly in and out.
It has the capacity to extend to 30 million passengers and 400,000 aircraft movements, which is expected to meet demand until at least 2050.
There are 29 international airlines, nine domestic and commuter airlines and seven cargo airlines.
But the blueprint for the future does not have firm dates or times for any of its development plans, leaving a new owner with scope to manoeuvre.
The masterplan until 2025 insists airport planning is done around milestones of activity, not around time.
What's planned:
* Second runway (construction to begin by 2010).
* Cross taxiway linking the two runways.
* Extension and upgrades to the international terminal.
* Extreme makeover of domestic terminal (under way).
* New control tower.
* Redevelopment of freight facilities.
* Additional international gates and airside facilities.
* Better transport links with Auckland and Manukau cities.
* Expanded retail and entertainment in terminals.
* Significant commercial, office and retail property portfolio.
* Airport hotels - one budget and one high-quality.
* Transport hub within the airport precinct.
* Multi-level carparking.