AIRPORT LINK

AIRPORT LINK COMPANY PTY LIMITED

Airport Link held a 30-year concession to operate four rail stations between Sydney City and Sydney Airport. It was the first public/private partnership in NSW as well as being a part of the Olympic infrastructure.

After opening in May 2000, Airport Link was facing a substantial customer shortage, with actual patronage at only 18% of the forecast which left Airport Link unable to meet its financial obligations. Shortly after operations commenced the company was placed into receivership.

The Receivers:

• Introduced new management, and initiated a series of operational improvements;
• Settled a major claim with the NSW Government securing the viability of the project;
• Set a 5-year strategic plan for the improvement and stabilization of the underlying business;
• Marketed and sold the project in 2008, resulting in the payment of secured creditor claims in full.