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 (APAM) and Australia Pacific Airports (Launceston) Pty Ltd (APAL) respectively.
APAC acquired the lease for Melbourne Airport for A$1.307 billion on 2 July 1997, and a 90% stake in Launceston Airport for A$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 three Australian fund managers: 51% by AMP Limited; 33% by Deutsche Asset Management; and 16% by Hastings Funds Management Limited. BAA Limited, a large UK-based airport operator, previously owned 19.8% of APAC, which it sold on 21 October 2006, shortly after it was acquired by a Ferrovial-led consortium. Its interest was acquired by the other three shareholders equally.
The Chairman of the Board is Don Mercer and the Chief Executive Officer is Chris Woodruff.
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.
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