Westralia Airports Corporation, the owner and
operator of Perth Airport, has achieved an important milestone in
its expansion of Perth Airport with the completion of a major new
As part of the financing, the company has agreed
new debt facilities totalling $740 million. In addition, the
company’s shareholders have also committed further funding
totalling $142 million. The new financing will be used to
refinance existing bank debt facilities and to fund the airport’s
substantial capital expenditure programme.
The new debt facilities are being provided by a
total of eight banks from Australia, Europe and Asia.
“Completion of the financing provides our
company the funding certainty we need to proceed with our major
investments to increase capacity and customer service levels at
Perth Airport,” said Perth Airport’s CEO Brad Geatches. “These
funds will underpin our investment in a new domestic terminal,
“Terminal WA”, and expansion of our existing international
terminal, as well as many other projects that will further improve
customer service at Perth Airport.”
“The fact that this major financing has been
successfully completed during a period of unprecedented
dislocation in global financial markets reflects the confidence
shareholders and lenders have in our business performance and
plans” Mr Geatches added.
Perth Airport Expansion
The key elements of Perth
Airport’s investment plans over the next three years are:
- A new domestic terminal designed to serve
regional Western Australia and also some interstate services.
- Expanding the capacity of the current domestic
terminal with new aerobridges, expanded departures and new retail.
- Redeveloping the domestic terminals forecourt
to improve vehicle, taxi and pedestrian access, including covered
pick-up and drop-off and covered walkways to car parks and rental
- Expanding the International Terminal,
including check-in, departures, bag reclaim, quarantine and five
new aircraft parking positions.
- An on-airport public road linking the
international and domestic terminal precincts, which will reduce
the time to transfer between the precincts to 10 minutes.
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