Longreach Regional Airport, the spiritual home of Qantas, has been leased to a subsidiary of Queensland Airports Limited (QAL) for 99 years.
Longreach Airport Limited (LAPL) leased the airport from Longreach Council for an up-front payment of $2.5 million.
A condition of the lease is that LAPL carry all the costs associated with the maintenance and development of the airport for the duration of the lease.
QAL Managing Director Dennis Chant said that QAL had already been involved with developing the airport before the lease was signed.
“QAL is proud to have been able to assist LRC in the planning, design and development of the new airport facilities and in managing the smooth transition into the new terminal and the introduction of the complex passenger and baggage screening process.
“We now look forward to a long partnership with the Longreach and region communities to grow the airport for the benefit of the regional economy.
QAL won the lease after a tender process was conducted jointly by Longreach Council and the Queensland government.
Longreach Council CEO Michelle McFadyen said the decision to lease the airport was economic.
"Council initiated this tender process to relieve its ratepayers of the ongoing costs of operating the airport and to secure grants for the upgrade of the airport from the state and federal governments."
QAL also owns and operates Gold Coast, Townsville and Mt Isa airports.