Memebers of the public might learn by the end of this week what the Queenstown Lakes District Council has been discussing concerning the Queenstown Airport Corporation.
The council discussed two items - "Queenstown Airport Corporation Dividend Policy" and "Airport Litigation" in the public-excluded session of the full council meeting yesterday.
It was decided the dividend policy should be discussed behind closed doors to enable the council to continue commercial activities without prejudice or disadvantage, yesterday's agenda said.
The litigation topic was talked about in private "to maintain legal professional privilege", the agenda said.
A public comment on the dividend policy would be made by the QLDC "before the end of the week," a council staff member said after the meeting.
"There will be a media release advising what the outcome of that discussion was," council regulatory and corporate services manager Roger Taylor told the Otago Daily Times yesterday.
There would not be any comment on the airport corporation litigation matter, Mr Taylor said.
The council, representing the community, remains the majority shareholder of the booming airport, with 75.1%. Auckland International Airport Ltd (AIAL) holds 24.9% after a controversial "strategic alliance" share deal struck in July last year.
QAC created and sold the minority shareholding to AIAL for $27.7 million, in a deal publicly announced to Queenstown Airport's shareholders - the community - only after the event, once it had been negotiated and was a done deal.
A High Court attempt by the self-appointed Queenstown Community Strategic Asset Group and Air New Zealand to overturn the controversial deal was to ave been heard in the resort this week, but Air NZ deputy chief executive Norm Thompson announced on Friday that litigation against AIAL and QAC had been withdrawn.
AIAL agreed it would cancel the option to increase its shareholding of QAC to 30%-35%, Mr Thompson said.
