$500,000 for airport head

Auckland International Airport will pay new chief executive Don Huse a fixed base rate of $500,000 a year.

It said it was giving details of his pay in accordance with Australian Stock Exchange recommendations.

Huse, who takes over on Monday, can also earn a performance-related bonus of up to $250,000.

He will also be issued 500,000 share options, which, if not exercised, will lapse after six years.

In the 2002 year, outgoing chief executive John Goulter was paid $815,220, made up of salary and a performance bonus. He left yesterday after 15 years as chief executive.

Huse, 56, has been chief financial officer for Sydney Airports since 1998. Before that he was chief executive of Wellington Airport for seven years.

Auckland Airport shares finished the week at $5.85 each, down 15c from the previous week's close.