Auckland International Airport's announcement that it will soon be investing in an Australian airport firm has been effectively backed by the Manukau City Council.

Yesterday, the Auckland firm was scheduled to close its purchase of a 24.55% stake on North Queensland Airports, which is the operator of Cairns and Mackay airports. The stake was being sold by Westpac, and the total cost of the deal stood at A$132.8 Million.

The Council currently possesses a 10.05% stake in the Auckland company, and has stressed that the investment will prove to be a much positive move for the future development of Auckland.

"The Manukau community has given us a very clear message that it values our investment in Auckland airport and as a strategic asset for Auckland and New Zealand. As a shareholder the council supports the strategy for the airport to grow its core business and therefore increase returns to investor", said Manukau Mayor Len Brown.

With the takeover of the stake, an estimated 100,000 additional travelers would be channeled through Auckland every year.