Wellington International Airport receives USD49m facility from Infratil and local council

11 June, 2020

Wellington City Council, in conjunction with Infratil announced (10-Jun-2020) plans to jointly provide an equity underwrite of up to NZD75.6 million (USD49.2 million) to Wellington International Airport. The Council approved the underwrite on 23-Apr-2020, with its share of it to be NZD25.7 million (USD16.8 million), in line with its 34% shareholding. The facility will be able to be drawn by the Airport only if required, through the issuance of redeemable preference shares. The actions of the shareholders ensures the airport is soundly financed to meet all of its obligations and maintain the support of its lenders over the next two years as it recovers from the significant impacts of coronavirus. [more - original PR]