The Hibiscus Coast community and all of Auckland have reached a significant milestone in Auckland Council’s financial strategy with the confirmed sale of its remaining shares in Auckland International Airport Limited (AIAL).

The Auckland Future Fund, a council-controlled organisation, oversaw the sale, securing at least $1.31 billion from the 9.71 per cent shareholding.

The shares were sold at a minimum price of $8.08 each, surpassing the Long-term Plan 2024-2034 projection of $7.89 after transaction costs.

Auckland Future Fund Chair Chris Swasbrook highlighted the achievement as a pivotal moment for the council’s financial planning.

“The airport share sale enables the Auckland Future Fund to get underway with investing on behalf of Aucklanders and contributing funds to support council services,” said Mr Swasbrook.

He noted that the sale process attracted global interest and was conducted by UBS, delivering a favourable outcome.

The sale supports Auckland Council’s move to diversify its investments, which the fund projects will yield $40 million in annual cash returns starting in 2025/2026.

Auckland Mayor Wayne Brown emphasised that the sale aligns with the council’s commitment to ratepayers.

“The sale is a positive for Auckland. We are getting on with delivering a future fund that will support Auckland in the long term,” he said.

Liaison Councillor Christine Fletcher described the sale as a launchpad for the fund, which operates under an independent trustee board.

“It’s pleasing to see the future fund progressing as planned on behalf of Aucklanders,” she said.

The Auckland Future Fund was introduced in September 2024 as part of the council’s Long-term Plan 2024-2034.

It aims to safeguard the region’s financial resilience while reducing dependence on rate increases to fund infrastructure and services.

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