Australia Pacific Airports Corporation Limited | |
Type: | Private |
Foundation: | 1995 |
Location City: | Melbourne Airport, Victoria |
Location Country: | Australia |
Area Served: | Australia |
Key People: | Peter Hay, Chairman[1] Lorie Argus, CEO |
Industry: | Airports |
Divisions: | Australia Pacific Airports (Melbourne) Pty Ltd Australia Pacific Airports (Launceston) Pty Ltd |
Revenue: | A$1.04 billion (2018-19)[2] |
Net Income: | A$ 390 million (2018-19) |
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.[3]
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.[4] Each airport is under a fifty year long-term lease from the Australian Government, with options for a further forty-nine years.[1]
The company is majority Australian owned by five Australian fund managers:[5]
The chief executive officer is Lorie Argus.