Assets idle after airline's failure

By ANNE GIBSON property editor

Airport companies are likely to be out of pocket following the receivership of Tasman Pacific, flying as Qantas New Zealand, and there are questionmarks hanging over the future of the airline's terminal buildings.

In addition to the several million dollars in overdue landing charges owed to airport companies by Tasman Pacific, which had been flying as Qantas New Zealand for less than a year, the airports face losing their income from facilities that they leased to the airline.

Arrival and departure halls, baggage handling facilities and Qantas Club space had been leased to Tasman Pacific by the various international airport companies around New Zealand.

Only at Christchurch did Tasman Pacific own its own terminal building, as well as a hangar.

Leasing space to Tasman Pacific generated lucrative income for the airport companies. For example, Dunedin International Airport got $230,000 annually for leasing terminal facilities to Tasman Pacific. Its chief executive, John McCall, is hoping another airline will lease the space, which would otherwise be used for international passengers.

In Auckland, Tasman Pacific rented its terminal from Auckland International Airport, which assumed ownership of the building about three years ago.

The arrangements at Wellington International Airport are more complicated, as Qantas NZ had far less dedicated floor space and no separate terminal.

Wellington airport chief executive John Sheridan said Qantas used gates and check-in facilities within the existing domestic terminal, which could easily be used by another operator.

"The baggage facilities, some of the flight information screens and the PA system are all bundled up into the landing charges. But there are separate lease fees for Qantas office accommodation and the Qantas club. These are in the hands of the receiver."

In Christchurch, Ansett had expanded the domestic airline terminal so that the Qantas facilities were alongside Air New Zealand's floorspace.

The property arrangements in Christchurch were different to those in the other three main centres.

Tasman Pacific owned the terminal building alongside the Air New Zealand domestic terminal, said Rebecca Smith, of Christchurch International Airport.

"Tasman Pacific also owns an engineering hangar on the northern side of the airport," she said.

The intention was that the buildings would be owned by Christchurch Airport at some stage.

"Ansett built terminals throughout the country on a similar basis, with the provision of the buildings reverting to the airport companies at some stage."

She said this had not yet occurred in Christchurch.