BrisConnections enters voluntary administration
Operator of the recently opened Brisbane Airportlink, BrisConnections, has announced it has entered voluntary administration.
The decision was made after an ‘extensive review’ of the expected cash flow from the Airportlink, which concluded that traffic numbers are significantly lower on the toll road than previously anticipated.
The company currently has $3.5 billion to a number of banks led by the ANZ.
The company’s Board has announced McGrath Nicol Partnership as the administrators.