The Federal Government has signed new tripartite deeds to smooth the path of new investment at nine leased airports. The move is expected to free up financing for $9 billion in infrastructure projects.
The tripartite deeds clarify the rights of finance companies in the event an airport operator goes out of business or loses its operating licence.
In 2011, the government extended existing deeds on 12 major airports by another 30 years, and to put all federally-leased airports on the same deal, new deeds will be offer to Parafield, Archerfield, Tennant Creek, Camden, Essendon, Mount Isa, Jandakot, Moorabbin, and Hobart.
In a media statement released on April 24, Minister for Infrastructure and Transport, Anthony Albanese said:
“These deeds have given financiers the confidence to invest, and operators the certainty to plan for the long term.
“Today’s announcement puts all federally-leased airports on a level-playing field when it comes to securing financing for major infrastructure developments and upgrades on airport land.”
Australia's airports directly support 50,000 jobs and contribute $5 billion to the national economy, and are seen by the Federal Government as generating economic growth.