LNP confirm Airtrain buyback plan despite Labor conceding current asking price ‘unaffordable’

The LNP will consider buying back the controversial Airtrain service if it wins the October state election, despite Labor saying the current asking price is unaffordable.

The LNP will consider buying back the Airtrain if it wins the October state election, after Labor conceded the current asking price was unaffordable.

The state government yesterday announced Airtrain fares would be slashed in half from August after it reached a deal with Airtrain overseas owners Britain’s Universities Superannuation Scheme.

The deal will not impact the existing airtight contract which prohibits Brisbane City Council or TransLink from running any other services to Brisbane Airport terminals until 2036.

Transport Minister Bart Mellish at the official announcement of half priced Airtrain fares. Picture: David Clark

Transport Minister Bart Mellish conceded the government was unwilling to pay the exorbitant asking price to buy back the service, which is believed to be in the hundreds of millions of dollars.

“We are miles apart with how much we value (the contract) and how much we would be willing to pay taxpayers money to get out of that arrangement compared to what the overseas owners of Airtrain want,” he said.

But Opposition Leader David Crisafulli said if the LNP are elected in October he would be willing to negotiate a buyback.

Mr Crisafulli said the half-price fare deal was a band aid solution and he would look for “long term structural reform to deal with the issue”.

“A short term pre-election contribution doesn’t deliver the long term structural reform that Queenslanders need to be able to afford to use it,” he said.

Mr Crisafulli hinted at his intent to pay for the service by saying that the acquisition of the Airtrain would be a key legacy item for the Brisbane Olympic and Paralympic Games.

“I always talk about road and rail and the ability for people to be able to afford to use that line would generationally be a legacy for Queenslanders to look back on,” he said.

“Legacies are about long term reform to drive down costs, not just short term costs.”