As part of the 1998 treaty settlement, Ngai Tahu negotiated the right to first refusal for the sale of Crown assets, including the 50% shareholding in Dunedin International Airport and a 25% stake in Christchurch International Airport.
However a spokesman for Prime Minister John Key said "The Government has no plans to divest these shareholdings".
Ngai Tahu Holdings chief executive Greg Campbell said Ngai Tahu had always openly acknowledged its interest in public-private partnerships.
"If the Government or any local council decides to sell or partner a business or asset then obviously, if that is stable and worthy of investment, Ngai Tahu Holdings Corporation would give it strong consideration," Mr Campbell said.
Dunedin International Airport chief executive John McCall said when the airport company was established in 1989, a 50% share was retained by the Crown for future treaty settlements.
Under the joint venture partnership, the Crown and Dunedin City Holdings - which is owned by the Dunedin City Council - each have a 50% shareholding, which is estimated to be worth $15 million.
The airport company owned about $60 million in assets, including a farm and small residential housing estate, and carried debt of $22 million from the completion of its new terminal in 2006.
Mr McCall said the current ownership model was working well, and would have no objections if Ngai Tahu expressed interest in owning shares offered by the Crown.
Although the Government has ruled out potential asset sales this term, this position could change after the next election, he said.
"Nothing would surprise me."
Minister of Finance Bill English said in Parliament last week the Government had given a firm undertaking to New Zealanders there would be no asset sales in this term of office.
"If the policy changes, we will say so and campaign on the issue in the 2011 election."
Ngai Tahu kaiwhakahaere Mark Solomon said in a TVNZ interview last week the iwi, which already owns Crown assets including the Dunedin, Queenstown and Christchurch police stations, would be interested in securing more state owned assets.
