Airport News

Airport News

PERTH Airport has raised about $300 million through US investors as part of funding for the airport's expansion plans.

The private company today said it had issued $US270 million and $30 million in senior secured notes in a private placement.

As a result of the “successful” raising, Perth Airport said it would no longer need the $300 million facility it had negotiated in November last year.

Funds raised will be applied towards the airport’s $750 million expansion plans, which include the construction of a new domestic terminal and expanding the international terminal.

The expansion will allow the airport to cater for the growing number of passengers, previously predicted to increase to 20.2 million by 2031, thanks in large part to the resources sector.

During the 2012 financial year, 12.6 million passengers travelled through the airport’s terminals, an increase of 10.3 per cent on the previous year. Domestic passengers had the largest growth at 11.7 per cent while international travellers grew by 6.9 per cent.