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A new report shows the space and advanced aviation sectors contributed more than $2.5 billion to the country's economy last year.
The Innovation for Growth, Charting the Space and Advanced Aviation Sectors report – commissioned by the Ministry of Business, Innovation and Employment – said the space sector had grown by 9% per year since 2019, largely driven by increases in space manufacturing, operations and applications.
It added $2.47b to the economy in the 2023/24 financial year.
“As the sector grows, so does the number of people and communities it supports. The space sector now supports 17,000 jobs in New Zealand’s economy, up from 12,000 in 2019,” said Minister for Space, Judith Collins.
"Whether it’s a research lab, a drone manufacturer, or a rocket launch pad, there are some amazing companies and an immense depth of talent working in the space and advanced aviation sectors throughout the country."
Collins noted applications for the Prime Minister’s Space Prizes open on May 12.
The Waitangi Tribunal has been urgently asked to summon Minister for Regulation David Seymour over the controversial Regulatory Standards Bill, which critics argue excludes Te Tiriti o Waitangi and ignores substantial public and expert opposition. Māori claimants say the bill, scheduled for rapid introduction to Parliament on May 19, represents a fundamental constitutional breach, notably lacking consultation with Māori communities and constitutional experts. A decision on whether he'll be summoned could be made today, with his likely appearance next Tuesday, May 13.
CDL Hotels Holdings NZ says it received acceptances under its revised $2.80-a-share offer for Millennium & Copthorne Hotels (MCK) for 8.29 million ordinary shares, taking its tally to 88.3 million shares. It represents an 83.7% holding in the hotel group, up from its prior 79.6% but fails to get to the 90% level requiring mandatory acceptance by minorities for the offer. The offer closed on May 8. Last month, minority shareholder Accident Compensation Corporation, said it won’t accept the offer for its 4.5% stake, after suggesting it represents "less than half the value" CDL will acquire. On April 23, ACC said the offer was "unreasonable and opportunistic", representing a 40% discount to the mid-point determined by an independent valuation. CDL's Singaporean owner, City Developments, has said the offer was the "final and best" price CDL was willing to pay, and it wouldn't vary the price again for at least nine months.
Auckland Airport has announced the resignation of its chief infrastructure officer, Susana Fueyo Suarez.
The NZX-listed airport reported Fueyo Suarez would step away from her position this week and the search for a replacement would begin soon.
Auckland Airport CEO Carrie Hurihanganui said Fueyo Suarez's engineering expertise has been "invaluable" as the airport had advanced its infrastructure programme and reached key milestones such as the contract signing for the domestic jet terminal build and other developments such as roading, utility, and airfield works.
Fueyo Suarez was appointed as chief infrastructure officer in March last year.
