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.