Gisborne Airport, North Island, New Zealand

On 16 December 2004, Gisborne District Council (who previously owns and previously operated the airport) voted to let Eastland Group manage the airport and lease the assets from 1 April 2005. Gisborne District Council still remains owner of the assets. The lease runs for 15 years with an option to extend it for a further 15 years.
Quote from Eastland Group's Website
Eastland Group pay's Gisborne District Council an annual rental fee indexed to passenger numbers and is accountable for all capital investment. It bears all risk associated with the airports profitability, eliminating the need for ratepayer subsidy.
Over the next five years, Eastland Group plans to maintain and upgrade the airports existing assets and expand its capabilities. Some of this has already shown with the establishment of the new airport cafe 'V2', new airport logo and many other improvements.