In the shareholders’ September update, Skyline chair Peter Treacy says the company had been budgeting $295million. That covers the new gondola, which is operational; the completed new bottom terminal; a carpark, due in April; and the restaurant extension, which has started.
But add in the finishing touches — like a new luge chairlift and clearing more trees along the gondola route, to ensure they don’t fall on the gondola line and cause a fire — and by 2027 the all-up figure will be more like $310m.
Treacy says most of the tree-felling’s been completed, but it will be a complex job felling those remaining and removing the logs and debris.
Skyline’s continuing to work with Queenstown’s council to clear a slip that carried logs and debris into Queenstown Cemetery during September’s massive storm, affecting 207 of the 1643 plots, Treacy says.
Meantime, the company reported a 16% increase in revenue to $106m for six months, confirming a full dividend will be paid to shareholders.