KEY POINTS:
Auckland's two largest cities are considering offers for stakes in the country's busiest airport which could net them more than $860 million.
The airport company disclosed yesterday it was aware of approaches by the Canadian Government's mega-pension fund - which has worldwide investments worth $144 billion - to
"certain shareholders" to buy their holdings in Auckland International Airport for $3.10c a share before a possible takeover bid.
This forum debate has now closed. Here is a selection of your views on the topic.
Lesta G
In 2004 we (NZ) bought the train tracks back for a $1 and spent $200 million getting them back to standard. If we sell the airport or ports, in 10 years time, will we have to buy it back as well?
KiwiRob
Lets just become part of Australia and be done with it, clearly we are becoming less capable of running our own affairs without stuffing it up. Don't sell the Airport, if any move is made to sell a public referendum needs to be held and the profits sent to citizens of Auckland and Manukau or they could build us a decent stadium for the World Cup instead of the travesty that's been approved.
Neil (Auckland)
Might as well, after all, it's the Kiwi way to sell the country's assets to foreigners and if we are lucky, we'll get to buy it back at twice the price!
Shareholder
No, you do not ever sell the family silver for a short term gain. Too many of NZ's assets have passed all too cheaply into foreign ownership so NZer's are missing out on the profits and control.
Andrew Atkin
This looks like a really good way of winning some serious short-term cash to offset rates, and to therefore get re-elected at the next local-body elections. This is crap. What will be achieved in selling the airports? These airports are monopoly-structures for pete's sake - do we want the Telecom show all over again? If Auckland really needs some urgent cash now for infrastructure then it should borrow it, otherwise we (NZ) will get seriously stung in the future as we would end up paying massive monopoly-dollars to use our own airport. Selling the airport is the wrong way to get immediate money.
Ben
Seems strange. Auckland councils block an alternative, and competing, airport at Whenuapai and then seem happy to sit back and watch the value of 'their' investment skyrocket. I suppose councils are natural monopolies and are just acting like it.
Zpete (Mt Wellington)
No Way. That is an ongoing source of good income. Sell the family jewels overseas is a policy of most public bodies, including the government. I reckon NZ will soon be in private hands. The government will be "told" what is expected of it. We will be slaves to foreign investors. Save NZ from public bodies selling our birthright - New Zealand.
Roina
No to selling off such a strategic infrastructural asset. The idea of increased value on shares in the future in foreign ownership just doesnt appeal. No way Canada - go look eslewhere.
John Strickland
Should Auckland Airport be sold? No. Selling one of the two main airports in NZ is not in the national interest. NZ depends on relatively few airports for international air transport, it can't afford to allow a monopoly or duopoly to develop.
Michael (Wellington)
Don't you just love people who don't have any stake in Auckland Airport (or any other NZ company under offer from overseas investors) bleat about needing to keep it in NZ ownership? All companies in NZ must be run for the solely for the benefit of that company - not any ill-defined 'national strategic interest'. Any directors who fail to do so get a whopping fine or a trip to prison. Whether the shareholder speaks with an accent or not makes not difference. But the bottom line is, if you want to keep control of it, buy it yourselves.
CBD
Sell it! Have a piece of our pie (sarcastically speaking). New Zealand is a great avenue for selling our vital bits for revenue and sending the $$$ overseas, and with our dollar at the moment we are in for a great future pfttttt! Not! Looks like the minority will win again, and will go against everyone's wishes and sell to foreign investors. Looking forward to the excessive charges that the companies will charge at the airport just to get into "our" country.
Ron the NZer.
As a nation we seem stupid. Why sell a major monopoly asset to an overseas body? The income will be theirs not ours. Don;t forget there is not only an airport but a large property holding as well. The departure tax and landing fees, together with air fares will rise. Look at what happened at Sydney Airport. There is a second runway and more property to come. If it is spend on parks etc, we will not have any or much money to enjoy them with anyway. Some of our companies seem to have no cojones - why talk to anybody, this includes the councils. What is next? The water? This is the same company that objected to a second airport at Whenuapai. Think about it before to is to late.
G
No, we shouldn't sell. Mind you, we have little left that we can call our own so why not?
Peter Denny
No, they are worth a lot more than being offered. Keep any dividends and bonus payments but hold on to the shares. If the councils are desperate for funds they could borrow using the shares as collateral, this should only be done on a short term basis. This company is a good investment for the Kiwisaver fund. The shares are a strategic investment for the people of Auckland and Manukau cities.
Michael
Don't even think about selling the rest of our Airport. It is a service provided for the people of this country, and should not be making profits for other countries. Why are we willing to sell something so old people in Canada can live better? What about our own pensioners? It's amazing that so many NZ items get bought up overseas, and people just think, "Oh well". Crazy.
Ron (Torbay)
So the Canadians continue to pursue their purchases of the Auckland International Airport shares.Pit y that North Shore City Council, unlike some of the other local councils, previously sold our shares so cheaply, for only $80m. Now, according to a NZ Herald specialist correspondent, had we kept them, they would be worth $290m. Great to see that NSCC is so affluent, that it can afford to divest us of $210m! Will all their financial gurus, who voted to be so charitable to our Canadian cousins, now please show their faces and explain? Hopefully, they will not be so unwise to put themselves forward as candidates at the next local government election.
Colin England
No - Auckland Airport should not be sold as it's far too much of a strategic asset. Profit needs to take a back seat to the good of the community.
Moosie
No bloody way!
Joe
Sell it! NZers could not care less about their companies, they are driven by the property market. I also couldn't care less about the warehouse, like to see that go first. Software of excellence, F&P, made the right decision and I can see F&P healthcare doing the same. NZ will not have a sharemarket because they will be bought up or relocate overseas. Bay Corp Advantage switch and now they have even taken over its new name Veda. All this was on the cards long ago.
Kirstn
Of course not and especially not to off shore investors. The money and the airport should remain in NZ hands. And as for Dick's comment that it could be used for parks and recreation etc, isn"t that what you extort our taxes for Dick?
S
If this number one stock goes, what will you put in its place? It is a well managed, brilliant asset, maybe have a cornerstone offshore at 19.9 per cent but no more. What will we invest in when Kiwisaver and other schemes come in? This is not an asset going offshore - defend your job!
