Airport rejig frees up 12m

Planned changes to Newcastle Airport's corporate structure may soon free up 12-million dollars, with Port Stephens and Newcastle Councils set to rake most of it in.

A proposed new refinancing facility will allow the Airport to immediately repay current borrowings from both councils by giving it the power to borrow money in its own right.

 

The changes would also let the Councils draw a dividend from the business, as well as open the door to them potentially selling down their stake as low as a combined 51 percent.