Australia Pacific Airports Corporation
Australian airport management company
From Wikipedia, the free encyclopedia
Australia Pacific Airports Corporation Limited (APAC) is an unlisted company and owner of two Australian airports: Melbourne Airport and Launceston Airport. Each airport is operated by an airport lessee company, in which APAC has a controlling interest: Australia Pacific Airports (Melbourne) Pty Ltd and Australia Pacific Airports (Launceston) Pty Ltd respectively.[4]
| |
| Type | Private |
|---|---|
| Industry | Airports |
| Founded | 1995[1] |
| Headquarters | , |
Area served | Australia |
| Key people | Peter Hay, Chairman[2] Lorie Argus, CEO[2] |
| Revenue |  A$1.04 billion (2018–19)[3] |
| A$ 390 million (2018–19)[3] | |
| Divisions | Australia Pacific Airports (Melbourne) Pty Ltd Australia Pacific Airports (Launceston) Pty Ltd |
| Website | melbourneairport |
APAC acquired the lease for Melbourne Airport for $1.307 billion on 2 July 1997, and a 90% stake in Launceston Airport for $18.8 million on 29 May 1998. Launceston City Council owns the remaining 10% of Launceston Airport.[1] Each airport is under a fifty year long-term lease from the Australian Government, with options for a further forty-nine years.[2]
The company is majority Australian owned by five Australian fund managers:[5]
- Dexus (27.32%)
- Industry Funds Management (IFM Investors) (25.17%)
- SAS Trustee Corporation (Managed by NSW Treasury Corporation)(18.47%)
- Future Fund (20.34%)
- Utilities of Australia (Managed by HRL Morrison & Co) (8.70%)
The chief executive officer is Lorie Argus.