I welcome the announcement from Brisbane Airport Corporation and Virgin Australia that they have reached a deal involving a ten year runway system agreement.
Brisbane Airport’s new runway is a $1.3 billion project and represents the single largest investment in aviation infrastructure, and the first of its kind, since the privatisation of federal airports in Australia.
The new runway is vital for Queensland and the rest of Australia now and into the future.
The Government welcomes the assurance from BAC that the new parallel runway project is being delivered on track and on schedule.
Brisbane is one of Australia’s fastest growing cities and its passenger numbers are growing to match. Passenger numbers are forecast to more than double from the current 21 million to 50 million by 2030.
The airport is a key economic driver for the state with wider flow-on benefits estimated to be worth some $4.6 billion annually now to the wider economy and is projected to grow to $11 billion by 2030.
The airport is currently home to 20,000 employees with this number expecting to grow to 50,000 by 2030.
The parallel runway project will ensure the Sunshine State continues to reap the social and economic benefits that come with the increase in aviation activity.