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Future financing of Newcastle Airport Limited - Media ReleaseLast modified: June 11, 2008 - 11:32 AM
Joint statement from the Lord Mayor Newcastle, Councillor John Tate and the Mayor of Port Stephens, Councillor Ron Swan. The Mayors firstly wish to recognise the substantial growth at Newcastle Airport that has driven increased economic prosperity for the region. Lord Mayor John Tate stated that “The Board and Management of the Airport have done a wonderful job in growing from a meagre 200,000 passengers in 2003 to over 1 million last year.” “The Councils have supported this growth providing ongoing debt funding to develop the necessary infrastructure such as the passenger terminal, increased car parking and the recently completed jet parking apron.” Councillor Swan added that “In adopting the 20 year Master Plan in 2007, we anticipated significant growth, however this is now likely to occur much sooner than originally predicted. We need to continue to grow and prosper creating additional jobs in the aviation and tourism sectors.” The Councils have jointly requested the Airport Board to review the Company Structure to ensure that sustainable growth is maintained. The Board Chairman AVM John Kindler has advised the Mayors that Ernst & Young Project Finance Advisory have been commissioned, and an initial report was provided to the Councils in May. “Our brief to the Board is to provide an exhaustive range of options so the Councils can jointly ensure that the Airports growth is supported in a sustainable and timely manner.” Councillor John Tate added. The Councils acknowledge that as part of these deliberations, there will be ongoing consultation with the Department of Defence.
Councillor Swan reiterated that “RAAF Williamtown is also important to our region and we need to continue the high level of cooperation as the commercial activity grows, acknowledging that first and foremost the RAAF Base is an operational and training base with five flying squadrons.” Contact details |
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© 2008 Port Stephens Council |
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