A milestone has been reached for the 50% sale of Hawke’s Bay Airport, with a price agreed between the Crown and the Mana Ahuriri Trust.
While the sale is not yet finalised, the process is “well advanced” with a price negotiated and Mana Ahuriri
Sale of Crown’s half-share of Hawke’s Bay Airport to Mana Ahuriri ‘well advanced’
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Hawke's Bay Airport is on the fringe of Napier and saw over 650,000 passengers come through the terminal last year. Photo / Warren Buckland
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The Crown (50%), the Napier City Council (26%) and the Hastings District Council (24%) are the current owners of Hawke’s Bay Airport Ltd.
A timeframe around when the sale could be completed and the exact price agreed upon has not yet been disclosed.
The trust is a post-settlement governance entity set up to receive the proceeds of the Ahuriri Hapū Deed of Settlement in 2016.
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That Treaty settlement, which underwent some later amendments, included an option to purchase the Crown’s shares in the airport.
The trust represents a collection of seven hapū based around the Napier area.
Trust general manager Parris Greening said the process was “well advanced after negotiating an agreed price”.
“It is a transaction that will benefit our whānau, community, and region with it being a key regional infrastructure asset,” Greening said.
“The significance of this is that the Crown acknowledges its breaches of Te Tiriti with our hapū through the settlement and is a deferred settlement property opportunity for Mana Ahuriri to purchase.”
He said the airport sat on what was once Te Whanganui ā Orotū (the Ahuriri estuary) which was “the Crown jewel of our settlement”.
He said the trust did not have any current plans to approach the Napier or Hastings councils about purchasing their shares.
“But it will be something to look into. Right now we have a small quantum to realise several large purchases within a finite time period.”
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Greening said Mana Ahuriri already worked closely with the airport, including with regular meetings.
In terms of making any significant changes to the airport, he said “I don’t foresee Mana Ahuriri overstepping its future shareholder role and its mana whenua role”.
State Owned Enterprises Minister Simeon Brown said he was looking forward to receiving the trust’s decision on the purchase.
“Mana Ahuriri and shareholding ministers continue to work toward Mana Ahuriri Trust’s purchase of the Crown’s shares in Hawke’s Bay Airport, as was provided by the Crown’s deed of settlement with Mana Ahuriri,” he said.
“I look forward to receiving confirmation of Mana Ahuriri Trust’s decision once its due diligence is completed, which the trust has told me is well advanced.”
The Ahuriri Hapū Deed of Settlement also included a Crown apology for historical Treaty breaches, $19.5 million, and a small number of properties.
Last year, the trust stated Te Whanganui ā Orotū had historically been a vital resource for the hapū of Ahuriri, and the trust was “actively focusing on uplifting and restoring the health of the estuary”.
Mana Ahuriri is also working on a proposed plan to develop a large section of mainly farmland next to the airport, known as Ahuriri Station, into more than 1000 homes, an industrial park and enhancement of cultural landmarks.
Hawke’s Bay Airport was opened in 1964 and celebrated 60 years last year.
If the sale is finalised, the trust will own half of Hawke’s Bay Airport Ltd, which earns revenue from aeronautical activities, retail and rental leases, car parking facilities, transport operations, advertising, and tenants occupying sites within its business park.
The airport posted net profit after tax of $2.78m in the year to June 2023 (and passenger numbers of 640,000), but the airport posted a net loss after tax of $855,000 in the year to June 2024 (and passenger numbers of 655,000).
The 2024 annual report stated that latest result was due to an income tax bill of over $3m for “the write-back of building depreciation claimed in prior years that is no longer deductible”.
Hawke’s Bay Airport welcomed a new chief executive in February, Nick Flack, about a year after his predecessor departed.
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.
