Cabinet's approved another Crown loan to keep Mount Ruapehu's skifields operational.

The $7 million Crown funding includes a $4.3 million loan to the under-liquidation RAL.

The rest goes into an in-principle agreement of support to the preferred bidder, subject to being granted a concession.

Pure Turoa has been trying to take over skifield operations in a joint bid with Whakapapa Holdings.

PwC Liquidator John Fisk says this support will get them to March next year.

"And that will hopefully give us time, once a new Government has formed, to have further discussions about getting through to the start of the 2024 season- and hopefully to finding a more permanent solution."

LISTEN ABOVE

Cabinet's approved another Crown loan to keep Mount Ruapehu's skifields operational.
The $7 million Crown funding includes a $4.3 million loan to the under-liquidation RAL.
The rest goes into an in-principle agreement of support to the preferred bidder, subject to being granted a concession.
Pure Turoa has been trying to take over skifield operations in a joint bid with Whakapapa Holdings.
PwC Liquidator John Fisk says this support will get them to March next year.
"And that will hopefully give us time, once a new Government has formed, to have further discussions about getting through to the start of the 2024 season- and hopefully to finding a more permanent solution."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.