More money for Ruapehu ski fields

Ruapehu Alpine Lifts is to get $7.35 million from the Government to get its ski field operations through to March. RAL went into voluntary administration last year on the back of a bad ski season, the impact of Covid-19 and hobbled with $45 million in debt. Of the money announced yesterday $4.3 million is for continuing operations of the two ski fields until March while the remaining $3.05 million is set aside to support the preferred bidder of the Turoa ski field to complete that purchase, subject to a concession being granted. The latest injection brings the Government's commitment to bailing out RAL to $20 million. PwC liquidator John Fisk talks to Kathryn about the latest grant.