Newcastle Airport Pty Ltd is proud to be jointly owned by City of Newcastle and Port Stephens Council and is governed by a Board of Directors comprising both independent and shareholder nominated directors.
Our structure makes us the largest Australian airport remaining in public ownership, with all distribution returned to the communities which it serves.
Operating structure
In November 2012, Port Stephens Council and Newcastle City Council (City of Newcastle) agreed to change Newcastle Airport Limited's structure from a company limited by guarantee to a company limited by shares. Newcastle Airport Pty Limited (NAPL) now operates under a new structure.
Under this structure:
- NAPL holds the Airport property (except the Head Lease) as nominee for partners of the Newcastle Airport Partnership. The benefit of the Head Lease is conveyed to the Newcastle Airport Partnership through a concurrent lease.
- NAPL undertakes the operation and development of the Airport as agent of the Newcastle Airport Partnership.
- As required, Port Stephens Council and Newcastle City Council (City of Newcastle) can sell down shares in PSC2 and NCC2 to third party investors for market value consideration and potentially re-contribute the proceeds.
- Third party investors can participate in the governance of NAPL commensurate with their investment in Newcastle Airport Partnership.
Commonwealth lease
Newcastle City Council (City of Newcastle) and Port Stephens Council hold a Head Lease agreement with Department of Defence for 28 hectares of land to the south of RAAF Base, Williamtown. The 60-year lease expires on 31 December 2075 and offers an additional three 10-year options (by mutual consent).
RAAF operating deed
An agreement exists with RAAF to provide landing and take-off rights, services, and use of airport infrastructure.