Auckland Airport to Buy Stake in North Queensland Airports

11 January 2010 (Last Updated January 11th, 2010 18:30)

Auckland International Airport in New Zealand has agreed to purchase a 24.55% stake in North Queensland Airports (NQA) for A$132.8m (US$123m) from Westpac Bank. NQA is the operator of Cairns Airport, Australia's seventh-busiest international airport, and Mackay Airport, which is a domesti

Auckland International Airport in New Zealand has agreed to purchase a 24.55% stake in North Queensland Airports (NQA) for A$132.8m (US$123m) from Westpac Bank.

NQA is the operator of Cairns Airport, Australia's seventh-busiest international airport, and Mackay Airport, which is a domestic airport located in Queensland.

The deal is expected to be finalised on 13 January and is conditional on NQA obtaining the consent of its financiers.