A staff member at work by the passenger terminal at Hawke's Bay Airport. Photo / Warren Buckland
Hawke’s Bay Airport could have a new joint-owner in future after Mana Ahuriri Trust expressed interest in buying the Crown’s 50% stake in the airport - an option available to the trust under its Treaty settlement.
If the purchase were to go ahead it would make Mana Ahuriri Trust (MAT) the largest shareholder of the airport.
Hawke’s Bay Airport, on the fringe of Napier, is currently owned by the Crown (50%), Napier City Council (26%) and Hastings District Council (24%).
A notice of interest has been issued by MAT to buy that 50% stake, and MAT is currently in negotiations with the Crown to agree on a purchase price.
Mana Ahuriri Trust is a post-settlement governance entity set up to receive the proceeds of the Ahuriri Hapū Deed of Settlement in 2016. It represents a collection of seven hapū based around the Napier area.
That Te Tiriti o Waitangi (Treaty of Waitangi) settlement, which underwent some later amendments, included an option for Mana Ahuriri Trust to purchase the Crown’s shares in the airport.
State Owned Enterprises Minister Paul Goldsmith confirmed MAT had expressed interest in that option.
“Mana Ahuriri Trust has issued a notice of interest to acquire the Crown’s interests in Hawke’s Bay Airport Limited, signalling the initiation of the transaction valuation process.
“It’s important to note that, at this stage, there is no agreement for MAT to purchase the Crown’s shareholding in Hawke’s Bay Airport Limited.
“That’s entirely a decision for MAT, and we can’t comment on what decision it may take.”
Mana Ahuriri Trust chairman Te Kaha Hawaikirangi said the trust was currently in negotiations with the Crown to agree upon a purchase price, which had not yet been finalised.
“The option to purchase the Crown’s share in the airport was included as part of our settlement agreement, though no decision has been made on the purchase of the shares,” he said.
“The airport is a vital transportation hub that plays a crucial role in connecting our region and fostering economic growth, is situated on Te Whanganui a Orotu, also known as the Ahuriri estuary, which is considered a taonga tino nui—the crown jewel of our settlement.
“Te Whanganui a Orotu has historically been a vital resource for the hapū of Ahuriri.
“We are actively focusing on uplifting and restoring the health of the estuary, which has been a priority for many years.”
The Ahuriri Hapū Deed of Settlement also included a Crown apology for historic Treaty breaches, $19.5 million and a small number of properties.
Hawke’s Bay Airport has gone through a turbulent few years dealing with the Covid pandemic and then Cyclone Gabrielle.
However, the airport’s 2023 annual report stated the airport had seen a return to profit in the year to June 2023 - with net profit after tax of $2.8 million.
In the latest half-year report, covering the six months to the end of 2023, the airport revealed it was continuing to turn a profit.
“Total passenger movements for the half year [to the end of 2023] were 331,842, representing a 4.8% increase on the same period [the year prior],” the report read.
“Net profit after tax is $1.14m [for that six-month period] or 21.6% higher than budget.”
A Hawke’s Bay Airport spokeswoman said airport management were aware Mana Ahuriri Trust had issued a notice of interest to acquire the Crown’s 50% shareholding, but “are not in a position to make a comment”.
Hastings District Council also stated it was aware of the notice of interest but did not comment further. Napier City Council declined to comment.
The airport is yet to appoint a new CEO after former chief executive Rob Stratford resigned and finished up at the end of January. He held the role for two years.
Gary Hamilton-Irvine is a Hawke’s Bay-based reporter who covers a range of news topics including business, councils, breaking news and cyclone recovery. He formerly worked at News Corp Australia.