New Zealand government agrees to a $7m bailout for Ruapehu Alpine Lifts, marking 5th in 18 months.
The New Zealand government has agreed to a $7 million bailout for Ruapehu Alpine Lifts (RAL), marking the fifth multimillion-dollar bailout in the last 18 months. While the government insists this will be the last taxpayer-funded support for the struggling ski resort, the bailout will allow the ski season to go ahead at Whakapapa in 2024 and support the sale of Tūroa ski field assets to Pure Tūroa Ltd. The Taxpayers' Union has criticized the government's decision, claiming it is throwing good money after bad in an attempt to save the failing company.
March 13, 2024
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