Brisbane Airport Link operator goes bust
21 February 2013The operator of Brisbane Airportlink, BrisConnections, has gone into voluntary administration with debts of more than AUD 3bn (USD 3.1bn).
The board of BrisConnections called in voluntary administrators yesterday, shortly before bank investors in the project appointed PPB Advisory as the receiver managers of the project.
David McEvoy, PPB advisory partner, said: "Airportlink M7 is a valuable part of Brisbane's road network and will continue to operate as usual. Our priority is to ensure that normal service is maintained while we work with management and other key stakeholders to implement a sustainable future for the business. We thank the Brisbane public for their continued support and patronage."
The 6.7km Airport Link tunnel in Brisbane, Queensland, opened in July last year.
