Federal Airports Corporation: Difference between revisions
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}}</ref> Melbourne Airport was acquired by a newly formed [[Australia Pacific Airports Corporation Limited]] for $1. |
}}</ref> Melbourne Airport was acquired by a newly formed [[Australia Pacific Airports Corporation Limited]] for for [[A$]]1.307 billion,<ref name=1997report>{{cite web |
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| title = 1997–1998 Annual Report |
| title = 1997–1998 Annual Report |
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| url = http://www.melbourneairport.com.au/downloads/pdfs/Annual_Report_97-98.pdf |
| url = http://www.melbourneairport.com.au/downloads/pdfs/Annual_Report_97-98.pdf |
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| format = PDF |
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| accessdate =20 September 2011}}</ref> with the transfer being completed on 30 June 1997.<ref name="fac123">{{cite book | author=Jim Eames | title = Reshaping Australia's Aviation Landscape: The Federal Airports Corporation 1986–1998 | publisher = Focus Publishing | year = 1998 |ISBN=1-875359-47-8 | page=123 }}</ref> |
| accessdate =20 September 2011}}</ref> with the transfer being completed on 30 June 1997.<ref name="fac123">{{cite book | author=Jim Eames | title = Reshaping Australia's Aviation Landscape: The Federal Airports Corporation 1986–1998 | publisher = Focus Publishing | year = 1998 |ISBN=1-875359-47-8 | page=123 }}</ref> Australia Pacific Airports Corporation Limited also obtained a 90% stake in [[Launceston Airport]] for [[A$]]18.8 million on 29 May 1998, with the [[Launceston City Council]] owning the remaining 10% .<ref name=97report>{{cite web |
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| title = 1997-1998 Annual Report |
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| publisher = Australia Pacific Airports Corporation Limited |
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| date = 1998 |
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| url = http://www.melbourneairport.com.au/downloads/pdfs/Annual%20Report%2097-98.pdf |
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| format = [[PDF]] |
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| accessdate = 2008-06-30| archiveurl= http://web.archive.org/web/20080724032806/http://www.melbourneairport.com.au/downloads/pdfs/Annual%20Report%2097-98.pdf| archivedate= 24 July 2008 <!--DASHBot-->| deadurl= no}}</ref> |
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By 30 June 1998 all significant assets and liabilities of the FAC were transferred to the new airport lessee companies. The FAC continued airport operations until 24 September 1998 and the transfer of residual assets and liabilities to the Commonwealth of Australia was not completed until 8 September 1999.<ref>{{cite web |
By 30 June 1998 all significant assets and liabilities of the FAC were transferred to the new airport lessee companies. The FAC continued airport operations until 24 September 1998 and the transfer of residual assets and liabilities to the Commonwealth of Australia was not completed until 8 September 1999.<ref>{{cite web |
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Revision as of 23:38, 1 April 2016
The Federal Airports Corporation (FAC) was a business enterprise of the Government of Australia responsible for the operation of major passenger airports in Australia. It was established by the Hawke Labor Government by an Act of Parliament in 1987 and commenced operation in January 1988.[1]
Discussion of the privatisation of airport operation in Australia commenced in the early 1990s. In April 1994, the Keating Labor Government announced that all airports operated by FAC would be privatised in several phases.[2] Melbourne Airport, for example, was to be included in the first phase. A firm decision was made in 1996 by the Howard Coalition Government. Each airport would be leased to an individual operator for 50 years, with an option for a 49-year extension.[3] At the beginning of 1997 the corporation operated 22 airports and handled over 60 million passenger annually.[3] Melbourne Airport was acquired by a newly formed Australia Pacific Airports Corporation Limited for for A$1.307 billion,[4] with the transfer being completed on 30 June 1997.[5] Australia Pacific Airports Corporation Limited also obtained a 90% stake in Launceston Airport for A$18.8 million on 29 May 1998, with the Launceston City Council owning the remaining 10% .[6]
By 30 June 1998 all significant assets and liabilities of the FAC were transferred to the new airport lessee companies. The FAC continued airport operations until 24 September 1998 and the transfer of residual assets and liabilities to the Commonwealth of Australia was not completed until 8 September 1999.[7]
References
- ^ Kiel, EE. The Federal Airports Corporation: The Infrastructure Challenge. search.informit.com.au. ISBN 0-85825-522-7. Retrieved 27 September 2008.
{{cite book}}:|work=ignored (help) - ^ Frost & Sullivan (25 April 2006). "Airport Privatisation". MarketResearch.com. Retrieved 20 July 2008.
- ^ a b Anne Graham (2003). Managing Airports. Butterworth-Heinemann. pp. 31–34. ISBN 0-7506-5917-3. Retrieved 27 September 2008.
- ^ "1997–1998 Annual Report" (PDF). Melbourne Airport. 1998. Retrieved 20 September 2011.
- ^ Jim Eames (1998). Reshaping Australia's Aviation Landscape: The Federal Airports Corporation 1986–1998. Focus Publishing. p. 123. ISBN 1-875359-47-8.
- ^ "1997-1998 Annual Report" (PDF). Australia Pacific Airports Corporation Limited. 1998. Archived from the original (PDF) on 24 July 2008. Retrieved 30 June 2008.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Airports". Department of Infrastructure, Transport, Regional Development and Local Government: Annual Report 1998-1999. www.infrastructure.gov.au. Retrieved 27 September 2008.
Further reading
- Eades, Jim. (1998) Reshaping Australia's Aviation Landscape: The Federal Airports Corporation 1986-1998. Focus Publishing.