IFT should let the debate rage until end of June then offer to buy the airport by issuing shares in IFT in exchange for their shareholding
https://wellington.scoop.co.nz/?p=160833#more-160833
"The shares have done well for the Council, increasing ~7x in value, plus dividends, since it declined to sell them to Infratil for ~$49.6m in 1998. But less well than if the Airport shares had been exchanged for Infratil shares, which are up ~15x in value, plus dividends over the same period."
Council could then set up a new green, ethical Perpetual Investment Fund using the proceeds of selling the Council’s minority airport shares with only the annual dividend available to be accessed by the Council.
This might slightly lower IRR for IFT but support target credit and liquidity metrics and reinvestment into higher returning growth capex options generated by these, and other investments