Australian airline company Qantas has entered an agreement to sell its domestic terminal (T1) at Melbourne Airport in an A$355m ($248.23m) deal.

Out of the total deal value, A$276m ($192.99m) will be received in cash this financial year. The remaining A$79m ($55.24m) amount will be ‘accrued in future periods’.

As per the agreement, all of Qantas’ retail and aeronautical assets will be transferred to Melbourne Airport. It also includes T1 operational licence, which is valid for ten years from 1 July 2019.

[Source: Airport Technology]