Airports transaction

The Queensland Government has announced its intention to lease Cairns and Mackay Airports, which are currently owned by two of its government-owned corporations (Cairns Ports and Mackay Ports respectively). The Government also proposes to sell its interest in Brisbane Airport.

The Premier, Anna Bligh, and the Treasurer, Andrew Fraser, announced the transaction in Parliament on 15 April 2008. It is intended that the process will be completed by the end of the 2008 calendar year.

The net proceeds (after cost of sales and debt) from the divestment of all airport interests will be used to fund expansion and redevelopment of Cairns Base Hospital, purchase a site for a future Cairns hospital, construct a new Mackay Base Hospital and redevelop Mount Isa Hospital. Any surplus will be retained in the Future Growth Fund for investment in future infrastructure in the region.

An advertisement seeking expressions of interest (PDF 55 K) from parties interested in participating in the process appeared in The Australian Financial Review on 27 June and The Courier-Mail and Weekend Australian on 28 June.

Treasury has established the Airports Transaction Team to manage the process.

Further information on the airports sale process is available by contacting:

Ben Flynn
Project Director
Airports Transaction Team
Queensland Treasury

Telephone: +61 7 3227 6867
Email: airportsale@treasury.qld.gov.au

Last reviewed 6 August 2008