KEY POINTS:
The Government's decision to veto the Canadian bid for Auckland International Airport has drawn praise from the expected quarters today.
New Zealand First, the Greens, and a Council who is a major shareholder have all come out in support of the move.
The Government has made the right decision to decline the partial takeover bid, said New Zealand First Leader Winston Peters.
"New Zealanders have made their views clear on this matter - they want their strategic assets to remain in New Zealand ownership. That way the profits and ongoing benefits from the Airport will remain in New Zealand," said Mr Peters.
"This decision makes good economic and strategic sense. It is pleasing that the Government has resisted the temptation of a short term reward, through allowing 40 per cent of shares to be sold, for the longer term benefit."
Mr Peters said those who still harbour ideas of selling "strategic assets" into foreign hands were "foolish" to do so.
The Green Party is absolutely delighted at the decision, the party's associate transport spokesperson Sue Kedgley said.
"Auckland airport is a key strategic asset and New Zealand could not afford the economic, environmental, biosecurity or security risks of allowing control of our main aviation gateway to pass into foreign hands."
Meanwhile, airport part-owner the Manukau City Council says the Ministers' decision is "the right one".
"The airport company will need continued strong leadership and direction to expand its enterprise. We are mindful that the airport company might still require an equity partner. That partner should have significant experience in airport development and operations. We are looking for further capital investment in the airport, but not to the degree proposed by CPPIB", said Manukau Mayor Len Brown.
"Ultimately, we want the company to be in the best position to take advantage of financial and operational opportunities that maximise value for its shareholders. We are confident this can be achieved while respecting the requirement that the airport remains in majority New Zealand ownership and control."
- NZHERALD STAFF
