A $605 million deal with Palisade and the Sunshine Coast Council has been struck to deliver the international airport. As part of a 99 year lease, Palisade will pay $82 million lease payments in total with an up-front $67 million payment that the council will use for the construction of the runway.
Palisade will take charge of operating, investing and developing the airport along with negotiating with airlines for routes etc.
The deal will not only see the council retain ownership, but also pocket a 5% annual slice of the gross revenue for the life of the lease.