New boss of Coffs airport announced as long-term lease begins

New incoming manager announced as private firm takes on long-term lease of Coffs Harbour airport.

Sunshine Coast Airport operations and assets general manager Frank Mondello is leaving the role to take on Coffs Airport.

He may be a new face in Coffs Harbour, but incoming airport manager Frank Mondello already has an impressive 40 years aviation experience under his belt.

Mr Mondello will be leaving the ranks of the management team at Sunshine Coast Airport to start his new role in Coffs when Palisade Investment Partners takes over the long-term lease of the council asset from April 1.

“I am really excited to build on the platform the Coffs Harbour City Council has built at the airport by growing connections and creating jobs so the region can reach its potential,” he said.

“I’m also looking forward to being closer to family and friends, and to cheering on the NSW State of Origin team on home turf.”

Mr Mondello is currently the General Manager of Operations and Assets at Sunshine Coast Airport, and previously held senior roles at Sydney Airport.

© 2020 Eyes Wide Open Images Barry Alsop

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He’s led a number of significant projects including the Sunshine Coast Airport Expansion Project, which brought a new internationally capable $344m runway into operation last year.

Palisade this week announced Mr Mondello would be their new GM for Coffs, and that the airport would be overseen by a board chaired by aviation industry stalwart Dennis Chant who was formerly the CEO of Queensland Airports Limited.

Mr Chant said Mr Mondello was a “stand out choice” to lead the airport team.

“We believe that with Frank at the helm and with the broader support of the management group, a team that has decades more aviation and infrastructure experience, Coffs Harbour Airport is in very safe and capable hands.”

After confidential discussions with Council, it was announced in December that Australian investment firm Palisade had secured the 50-year lease of Coffs Harbour Airport with an option to extend it for a further 49 years.

Coffs Harbour Airport will be privatised under a long-term lease from April 1.

Coffs airport marks its fifth aviation asset, with Palisade having signed a 99-year lease of Sunshine Coast Airport in 2017.

It also has ownership in the Airport Development Group, which manages Darwin, Alice Springs and Tennant Creek airports under a 99-year lease.

In a statement, Palisade noted the Coffs Coast region was one of the fastest growing regional areas, and that the airport had demonstrated a “positive recovery profile” since the onset of COVID-19.

“This transaction builds on Palisade’s longstanding investments in the regional airports sector … and represents an excellent addition to our portfolio,” CEO Roger Lloyd said.

The long-term lease will include an upfront payment to council of $25m, and additional payments totalling $56.5m over seven years.

The council will share revenue from both the airport and Enterprise Park operations.

Last month it was revealed Qantas would launch direct to both Melbourne and Brisbane, and would also increase the aircraft size of one of its daily Sydney services from April 1, coinciding with the expected start of the lease.

Originally published as New boss of Coffs airport announced as long-term lease begins