Australian airport drama

Article Abstract:

Fifty-year leases have been sold on Perth, Brisbane and Melbourne airports in Australia for A$3.34 billion in total under the first phase of privatization. Commonwealth Bank of Australia and Amsterdam Airport Schipol led a consortium which paid nearly A$1.39 billion for Brisbane airport, with this airport perceived as having expansion potential. Airstralia Development Group bought Perth airport for A$643 million, while UK airport operator BAA and Australian Pacific Airports bought Melbourne airport for nearly A$1.31 billion. A further 18 airports will be sold, although the government does not plan to sell off Sydney airport.

Mergers, acquisitions and divestments, Buildings and facilities, Commonwealth Bank of Australia, BAA, Amsterdam Airport Schipol, Australian Pacific Airports, Airstralia Development Group

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Airport privatisation - the Australian experience

Article Abstract:

The Australian government has raised more than $2.6 billion through the sale of long-term leases for 17 airports. The first phase of this process, completed in Jul 1997, involved the sale of long-term leases for the airports in Brisbane, Australia, Melbourne, Australia, and Perth, Australia. The second phase, completed in Jun 1998, involved the sale of long-term leases for a further 14 smaller airports owned and operated by the government. Both phases were administered and implemented for the government by the Office of Asset Sales.

Management

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More Australian airports

Article Abstract:

The Australian government raised A$3.34 billion from the sale of three airport leases and plans to sell leases for another 15, including Adelaide, Alice Springs and Canberra. All the leases are expected to be sold by June 1998. The price, financial status of the bidding company, and management experience will be considered before decisions are reached. The sales should raise about A$2 billion. Details of the proposed sale of electric utilities are also discussed.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric services, Economic policy, Contracts, Securities

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