sydney

Sydney Airport has bought back the lease of domestic terminal 3 from Qantas Airways for $535m, effective from 1 September.

The deal comes four years before the airways’ 30-year lease of the terminal expires in June 2019, but allows Qantas to manage it until that period.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Qantas will continue to have exclusive user rights on the terminal through 2019, after which it will retain priority usage of the gates, check-in and baggage facilities until 2025.

A per-passenger charge will be imposed on Qantas with effect from 1 September.

The terminal services around ten million passengers annually.

"We now have certainty about our future operations in terminal 3 post-2019."

Qantas Group CEO Alan Joyce said: "This deal secures Qantas’ long-term position in our largest hub, ensuring priority usage as the primary airline customer of Sydney’s terminal 3.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"We now have certainty about our future operations in terminal 3 post-2019, and an outcome that is a win-win for both Qantas and Sydney Airport."

The airways and the airport have also signed a five-year deal over domestic runway charges and international aeronautical charges.

Qantas is planning sale of leases at Melbourne and Perth airports, after selling one at Brisbane airport for $112m in February 2014.

The sale comes a few days after Qantas announced a multi-million dollar refurbishment of its lounges at the Brisbane airport.

A new lounge precinct is planned to be constructed to increase the domestic terminal expansion by 30%, with the redesign of the existing Qantas Club and construction of a new business lounge and chairman’s lounge.

The first and business lounges in the international terminal at Brisbane will be redesigned to create a single lounge.

Image: Qantas will retain its exclusive rights on the terminal until 2019. Photo: courtesy of Sydney Airport.