Ruapehu Alpine Lifts' liquidators have secured millions from the Government to keep its fields operating, just in time for the start of this year's ski season.
It comes a week after the company was officially placed into liquidation after creditors rejected proposals to save the debt-saddled company.
Regional Development Minister Kiri Allan said the Government will provide up to $5 million to the liquidators to ensure the mountain's 2023 ski season can go ahead.
"We've always been committed to finding a way to ensure the ski season on Mount Ruapehu goes ahead this year. Cabinet's decision today has solidified that," she said.
"Ruapehu is a very significant part of the economy in the central North Island, accounting for around a tenth of regional GDP, or $100 million per year.
"The season going ahead will save hundreds of jobs and support local tourism, the regional economy and the community, while a long-term solution is found.
"This will provide workers on the mountain with job security and ensure businesses dependent on activities on and around the mountain have the certainty they need for the season ahead.
"The liquidator is able to operate under the existing concessions."
The ski season is already underway in the South Island, and Ruapehu's two fields — Tūroa and Whakapa — are now expected to open in July.
Allan said the additional money would allow time for liquidators to decide on the purchaser of the business and its assets.
"The Crown has also received a further expression of interest following the watershed meeting, to take over the ski operations on the mountain," the minister said.
"This proposal from Te Ariki Tā Tumu Te Heuheu on behalf of Tūwharetoa is in addition to the expressions of interest received from Whakapapa Holdings and Pure Tūroa before the watershed meeting. The final decision in relation to the sale is made by the liquidator.
"The Government is now considering the three bids for government support and I have asked MBIE to engage with the bidders to determine the best outcome for Ruapehu Alpine Lifts' creditors, the Crown, the local economy and community."
Ruapehu Alpine Lifts was officially been placed into liquidation at the Auckland High Court last Wednesday.
A lawyer representing the company told the court that it had no other option. He said the company was "hopelessly insolvent and unable to pay its debts".
Hit by poor ski seasons and the global pandemic, RAL was assessed to be over $40 million in debt when it placed itself into voluntary administration last October.
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