Queenstown Airport chairman forced out

Queenstown Airport File photo

Queenstown Airport chairman Mark Taylor has been forced to quit his role, after being issued with an ultimatum by the Queenstown Lakes District Council.

Taylor said the Queenstown Lakes District Council passed a resolution last week to remove him from the board of Queenstown Airport Corporation if he did not resign within the week.

Taylor said he continued to support the decision taken by the airport company board to de-risk the business and introduce new capital to fund expansion and capitalise on the growing market.

Auckland Airport paid $27.7 million for a quarter share in Queenstown Airport in July last year, in a move described as a strategic alliance that would promote tourism growth.

In July a high-powered group of Queenstown business and community leaders demanded they wanted "our airport back", arguing the sale of a quarter of Queenstown's airport to Auckland Airport was settled before the community knew about it.

Taylor said in a statement that the board chose a new shareholder that could add significant experience and value as opposed to offering the opportunity to local interests.

"As promised at the time of the announcement the Company will be in a position to pay a significant dividend to the community this year.

"Without the new capital structure this would not have been a possibility for many years.

"I look forward to observing the implementation of two significant current developments from the sidelines over the next 18 months. First, the introduction of the runway lights will enable the Airport to operate throughout its consented hours.

Secondly, a quantum operational leap in efficiency will result from the establishment of a common departure terminal.

"Taylor said he left his role with a sense of pride at having contributed to the airport's development.

"I am happy to be judged on the company's results and achievements during my term and in the immediate future."

- NZ HERALD ONLINE