This represents one of the biggest aviation infrastructure deals in Australia's recent history
DLA Piper has assisted Perth Airport in inking a watershed agreement with Qantas for a $5bn investment.
The investment will support the building of an additional runway, a new domestic terminal, a new international terminal, two car parks and a hotel. Upon completion, the agreement stipulates that all Qantas and Jetstar operations will be centralised in a new terminal.
“This is an important project for Western Australia and a significant milestone for Perth Airport and its investors,” said Alyson Eather, international co-chair – projects at DLA Piper. “The agreement represents one of Australia’s most significant aviation infrastructure deals of recent times”.
Competition partner Simon Uthmeyer added that the agreement “demonstrates that the current light-handed regulatory regime for aeronautical services at capital city airports works by delivering significant private investment in nationally significant airport infrastructure, without government funding”. He confirmed that the DLA Piper team helped to develop the commercial framework that underpinned the deal’s economics in such a way that met shareholder objectives.
“This deal is hopefully the restart of major capital programs at capital city airports which were deferred due to the pandemic”, Uthmeyer said.
In addition to Eather and Uthmeyer, the team also included partner Richard Edwards (litigation and regulatory). The partners were supported by senior associates Joe Malcom and Joely Wilkinson-Hayes (competition), special counsel Sophia Grace (competition), and graduate HeeJoo Kim (competition); as well as consultant Fionn Bowd (finance) and solicitors Tara Ott, Tiarnne Morgan and Maya Stampfer (finance).
