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Queenstown Lakes District Mayor Glyn Lewers has acknowledged a successful year for the Queenstown Airport Corporation, which has released its financial report for 2023-2024.
“As 75.01 per cent shareholder for the QAC, QLDC welcomes a very positive year and successful financial outcome for the airport,” he says.
“This is a very strong performance and shows that the strong leadership of the Board and the Executive has developed and maintained a stable, high-performing organisation that delivers on the needs of the community.”
The performance of the QAC sees a record dividend payment to shareholders of $19.6 million, which is a direct payment to QLDC of $14.7 million.
“This is a strong result for QLDC and around $3.4m beyond earlier forecasts. The dividend will be used to pay down debt as per Council’s adopted policies and it will therefore enable more breathing space for managing Council’s debt ceiling,” says Mayor Lewers.
