Industry Airports Website [1] Founded 1995 | Headquarters Gladstone Park Type of business Private | |
 | ||
Key people Don Mercer, ChairmanChris Woodruff, CEO Profit A$202 million (2012-13) Divisions Australia Pacific Airports (Melbourne) Pty LtdAustralia Pacific Airports (Launceston) Pty Ltd Revenue 642 million AUD (2012–2013) Net income 202 million AUD (2012–2013) | ||
Australia pacific airports corporation top 7 facts
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.
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. Each airport is under a fifty year long term lease from the Australian Government, with options for a further forty-nine years.
The company is majority Australian owned by five Australian fund managers:
The Chief Executive Officer is Lyell Strambi.
APAC makes money from charging landing fees to airlines, from retail operations and office accommodation within its airports and from parking fees. Most aspects of pricing at both airports are monitored by the Australian Competition and Consumer Commission, and the Federal Department of Infrastructure, Transport, Regional Development and Local Government has jurisdiction over airport planning, environmental management and aviation safety and security. These were part of the conditions of privatisation of the airports.