Airport analysis has flaws, Boult says [ODT, 11/09/19]

A report that says there would have to be a flight every 10 minutes to cover the costs of the proposed Wanaka airport expansion, is ”fundamentally wrong”, Queenstown Lakes Mayor Jim Boult says.

But the author of the ”independent” financial analysis into the proposed $400million Wanaka airport expansion, based on publicly available information, says the Queenstown Airport Corporation and the Queenstown Lakes District council are either ”hiding something” or do not have all the information.

Qualified chartered accountant and former chairman and co-founder of Milford Asset Management Richard J. Somerville was commissioned by lobby group Wanaka Stakeholders Group to conduct the analysis, with the aim of calculating the amount of commercial activity likely to follow from the proposed $400million investment…

Read this Otago Daily Times article in full here.

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