Half share of Hobart International Airport set to go on market for upwards of $400 million

A majority stake in a Tasmanian airport is being prepared for sale.

A majority stake in Hobart’s International Airport is being prepared for sale.

The Macquarie Global Infrastructure Fund — which owns a 50.1 per cent share of the airport is — is reaching the end of an extension granted by investors to its 10-year term which began in 2007.

The remaining 49.9 per cent of the airport is owned by local super fund Tasplan.

The Hobart Airport completed its multi-million-dollar refurbishment in time for Christmas. Picture: MATT THOMPSON

The Australian Financial Review reported this week that Macquarie was seeking upwards of $400 million for its share of the airport.

The State Government sold the 570ha site for $350 million in 2007.

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A spokesman for Tasplan said it was aware of the potential for Macquarie Group to offload its stake.

“The Macquarie GIF III Fund, which owns 50.1 per cent of Hobart Airport, has a 10-year term and is set to wind up in September this year.

“Tasplan owns the remaining 49.9 per cent of Hobart Airport and is aware the Macquarie GIF III Fund is ending, so has appointed advisers to ensure the interests of Tasplan members are protected.

“Any potential sale of their stake in Hobart Airport is matter for Macquarie.”

The Hobart Airport completes its multi-million-dollar refurbishment in time for Christmas. Pictured at the airport is the new departure lounge. Picture: MATT THOMPSON

Hobart Airport passenger numbers increased from 1.8 million in 2009 to 2.52 million in 2017.

The airport also benefited from a taxpayer-funded upgrade worth $38 million which included a runway extension, the realignment of navigational aids, lighting works and the opening of a new access road.

A Macquarie Group spokeswoman said the company had no comment on reports of a sale.

Tasmania’s peak tourism body has called on the State Government to ensure the interests of the industry were looked after.

Tourism Industry Council Tasmania CEO Luke Martin said the growth and development of Tasmania’s tourism industry and visitor economy must not be left at the mercy of the “wheeling and dealing” of Sydney merchant bankers.

“While Hobart Airport is a private asset it is also critical infrastructure for the Tasmanian economy needing substantial reinvestment,” Mr Martin said.

“Today’s announcement Macquarie Bank intends to sell its majority holding in the asset rings alarms bells around what delays this could mean for upgrading the asset and attracting international flights.

”As our largest gateway, Hobart Airport underpins Tasmania’s visitor economy and its capacity to grow and attract new visitor markets to the state is fundamentally important to all Tasmanians, not just the tourism industry.

“We trust the Premier will stress these points with the owners and ensure the state’s interests are fully represented through the sale process.”