Airport World
Newcastle Airport in Australia is embarking on a significant expansion plan, in partnership with Commonwealth Bank (CBA), which is acting as sole financier.
The A$240 million deal includes the expansion of Newcastle Airport to enhance domestic capacity and develop a new international terminal and finance to accelerate the activation of Astra Aerolab including the construction of commercial A-grade office and industrial facilities subject to current development applications.
According to Paul Fowler, the executive general manager of regional and agribusiness banking at the Commonwealth Bank, Newcastle Airport is strategically important infrastructure and a key driver of the regional economy.
The airport is confident that its expansion will facilitate the introduction of new domestic and international routes and address capacity for forecast growth to around 2.3 million passengers a year by fiscal 2028.
