The first phase of Australia's airport privatisation has been completed, with buyers named for Brisbane, Melbourne and Perth airports. Management will effectively be put in the hands of Dutch, UK and US airport operators.
The A$3.3 billion ($2.6 billion) sale, which was almost A$1 billion ahead of Australian Government estimates, will be completed on July 1. Each of the bids included an overseas airport operator which will be responsible for managing the privatised operations.
A group led by the Australia Pacific Airports consortium and the UK's BAA group was confirmed as the buyer of Melbourne Airport for A$1.3 billion. Amsterdam Airport Schiphol, teamed with the Commonwealth Bank and local authorities in Brisbane, will pay $1.4 billion for Brisbane's new international airport, while Perth was secured for A$643 million by the Australia Development consortium, which includes US-based Airport Group International.
Analysts expect the total airports sale now to reach about A$6 billion, with more sales to be announced this year. Sydney Airport will not be sold until noise problems and the issue of a second airport site have been resolved.
Source: Flight International