1 October 2008

Airport expansion scuppered by global credit crunch

1 October 2008 | By johnboy

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The Canberra Times has managed to tie the global credit firestorm to Canberra.

It seem plans to expand the airport are on hold until they can find a safe way to finance it.

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Kramer1:23 pm 01 Oct 08

JB – I think your headline should have been “Airport expansion scuppered by GFO launch”.

Jonathon Reynolds12:54 pm 01 Oct 08

Seems as if the alleged sale of the airport to Macquarie might be on hold for a while then?

fnaah12:48 pm 01 Oct 08

does that mean we have to put up with the shmozzle that is out there at the moment until it is paid for???

Don’t think so. By shmozzle, do you mean the duplication of Pialligo Ave, or the new chicane exiting from the terminal? The chicane will go away once they finish the first “temporary” carpark that replaces the existing one (where the new terminal was to be built), and the new rampy/bridgey/bypassy bit of the Pialligo Ave duplication is finished (er… december?) The only thing on hold, by the looks of it, is the actual construction of the terminal building.

Linkitude: http://www.canberraairport.com.au/changes.htm

(could probably be updated with the new “let’s wait and see” plan)

ant12:44 pm 01 Oct 08

He could’ve upgraded the airport years ago, but got distracted by property development. Which has caused the schemozzle out there.

He is on the record as stating that there was no money in airports, the money was in the peripheral operations.

harvyk112:35 pm 01 Oct 08

grunge_hippy said :

does that mean we have to put up with the shmozzle that is out there at the moment until it is paid for???

I’d say yes…

grunge_hippy12:21 pm 01 Oct 08

does that mean we have to put up with the shmozzle that is out there at the moment until it is paid for???

harvyk112:09 pm 01 Oct 08

It’s a pity, because Canberra really does need a half decent airport. With exception to the Qantas Club, there is nothing on air side, especially at the Qantas end. It’s small and poky compared to the other airports in the various capital cities around OZ. (Even the 3 Kiwi airports I’ve been to are better)

peterh10:45 am 01 Oct 08

no handouts, the act govt has already promised the budget away….

when do we stop paying the ansett tax?

they could use the funds from that.

caf10:38 am 01 Oct 08

$250m expansions of small privately owned corporations should be bloody well financed by equity, not debt.

NickD10:06 am 01 Oct 08

What’s the bet that the preferred safe source of finance is yet another Government handout?