Auckland, Queenstown in airport alliance

New Zealand's Auckland International Airport reportedly will invest NZ$27.7 million to buy a 25 per cent stake in Queenstown Airport.

Auckland also will have an option to raise its stake to 35 per cent, it said in a statement sent to the stock exchange.

Queenstown Airport currently has NZ's fourth-largest number of international visitors.

New Zealand's Auckland International Airport reportedly will invest NZ$27.7 million to buy a 25 per cent stake in Queenstown Airport.

Auckland also will have an option to raise its stake to 35 per cent, it said in a statement sent to the stock exchange.

Queenstown Airport currently has NZ's fourth-largest number of international visitors.