No more excuses: investments in Australian airports are financially secure

[thewinchester]

Well, there's no excuses now - the airports can get access to funding, with financiers save in the knowledge their investments are rock solid secure (as if they weren't already):

AAA welcomes tripartite deed extension
australianaviation.com.au at 2:40 pm, Tuesday May 24 2011

The Australian Airports Association (AAA) has welcomed the Federal Government’s announcement of an extension to Tripartite Deeds for Australia’s privatised airports, which will free up plans to invest up to $9 billion in airport facility upgrades over the next 10 years.

“The extension of the tripartite deeds provides for an orderly management process in the extremely unlikely event of a default by an airport operator under the airport lease. It also ensures that lenders to privatised airports will now have the same financial security that exists for most former government assets that have moved into the private sector,” AAA executive director Caroline Wilkie said in a statement.

<snip>

Federal Minister for Transport and Infrastructure, Anthony Albanese said that the Deeds attached to 12 Australian airports (Brisbane, Sydney, Melbourne, Perth, Adelaide, Canberra, Darwin, the Gold Coast, Townsville, Alice Springs, Launceston and Bankstown) would be extended to match the “full 50 year duration of the leases held by their operators.

Now if only they could remove a lot of the other red tape in the way of improving significant transportation infrastructure, and we could really see our airports becoming the assets we need them to be.