Debrief

Airport Values

The Queensland state government’s 12. 4 per cent stake in Brisbane Airport (BACL) was sold to existing major holders for $289. 4m, valuing the airport at $2. 3bn. As the first significant airport sale in today’s economic environment it provides a fair yardstick of what such assets are presently worth.

However, as almost nil interest has been shown in increased tourism flights to Mackay and Cairns, so whether the state government will realise its hoped for $1 billion from all three sales may be doubtful, which in turn may affect the Whitsundays battle of the airports, where the government preferred new Laguna Quays International option would compete against the existing Proserpine airport.