Airport Link Company

From Wikipedia, the free encyclopedia

Airport Link
Sydney Airport Link logo.jpg
ParentUniversities Superannuation Scheme
Founded1995
Service areaSydney
Service typeCommuter rail
Stations4
An A set at Domestic Airport station

The Airport Link Company is the operator of the Green Square, Mascot, Domestic Airport and International Airport railway stations on the Airport Link tunnel in Sydney, Australia. The line is serviced by T8 Airport & South Line services of the Sydney Trains network.

The tunnel and the Airport Link stations opened on 21 May 2000.[1] The stations have seating which is a different design to the rest of the network-wide standard, with Street Furniture supplying the "Park Slim Bench"[2]

In 2000, the Airport Link Company was placed in receivership after defaulting on its finance arrangements, with patronage figures only one quarter of forecasted figures.[3]

In March 2011, it was announced that the Government of New South Wales would cover the cost of the station access fee at Green Square and Mascot stations, meaning that passengers no longer need to pay a surcharge to access these stations. To compensate Airport Link Company, the government now pays the company a ‘shadow’ station usage fee at a fixed contracted rate of approximately $2.08 per entry and exit of these stations.[4] A fee remains in place for Domestic and International stations.[5] Patronage on the link had been growing at 20% per year, but between March and June 2011 patronage increased by 70% as a result of the reduced fares.[6][7]

In 2013, Universities Superannuation Scheme (USS) bought 49.9% of Airport Link Company from Hastings Funds Management-managed Westpac Essential Services Trust, adding to the stake it already owned. As a result, USS took control of the Airport Link Company.[8][9]

Although often perceived as all going to the Airport Link Company, under the revenue sharing agreement, from August 2014 85% of revenues raised by the access fee go to the State Government.[10] From 2015 to 2018, the Government of New South Wales received the total net revenue amount of $197.6 million from the station access fee.[11]

References[]

  1. ^ Sydney Airport Rail Link Transfield Services
  2. ^ [1] Archived 14 July 2012 at archive.today Street Furniture. 12 December 2011.
  3. ^ "Sydney Airport Link Company in Receivership" Railway Digest January 2001 page 6
  4. ^ Removing or reducing station access fees at Sydney Airport, Final Report 2013-02-28. [2] Archived 4 March 2016 at the Wayback Machine. Chapter 2.2 p8
  5. ^ Green Square and Mascot commuters to save $17 a week Archived 21 July 2011 at the Wayback Machine CityRail. 2 March 2011.
  6. ^ Train fares to fall at two stations Sydney Morning Herald 2 March 2011
  7. ^ Tickets sales rocket on airport line as prices plunge Sydney Morning Herald 9 June 2011
  8. ^ "USS takes almost half of Australian public transport company". Pensions Age. 2 December 2013. Retrieved 9 November 2020.
  9. ^ "Awarded projects". NSW Treasury. Retrieved 9 November 2020.
  10. ^ Removing or reducing station access fees at Sydney Airport Archived 4 March 2016 at the Wayback Machine NSW Parliament 28 February 2014
  11. ^ "Budget Estimates 2018-2019 Transport and Infrastructure" (PDF). New South Wales Legislative Council. 31 August 2018.

External links[]

Retrieved from ""