Thursday 24th July 2008
|Text too small?|
The trust, which benefits the family of founding Manukau mayor Hugh Lambie and a charitable foundation, lost a High Court attempt last month to get surplus airport land returned. The Lambies were the original owners and farmed on the 36 hectare site, a small portion of the airport's total land holding.
"Auckland Airport remains firmly of the view that the claim was without merit and the High Court decision is entirely appropriate," the company said in a statement. The airport "will defend any appeal as and when it is filed."
The land was originally acquired for airport uses in the 1970s and the Craigie Trust, as original owner, had attempted to have it deemed surplus to requirements and offered back under the Public Works Act 1981.
Auckland Airport owns 1,500 hectares on land for future airport purposes and is developing a "mini-city," according to its website, including a business park, retail zones and plans for a hotel development and golf course, leveraging off its location and core business.
The stock rose 1.7% to NZ$1.84, trimming its decline this year to 38%.
No comments yet
Auckland International Airport Limited (NZX: AIA)
Auckland Airport sees growth in luring Asian travelers, tapping landbank
Auckland Airport shares climb to 6-year high on better earnings, higher dividend
Auckland Airport boosts FY profit 25 percent as property values rise, ups dividend
Auckland Airport expected earnings just within regulator's tolerance
Ex-Fonterra chairman van der Heyden to lead Auckland Airport board
Auckland Airport's 8 percent expected returns 'reasonable', regulator says
Auckland Airport 1H profit rises 11 percent on growth in domestic passenger traffic
Pre-Offer Announcement - Auckalnd International Airport
Auckland Airport flags $100 mln bond offer