iscover
A former managing director and CFO of Adelaide Airport has joined the board of Newcastle Airport.
Mark Young, who was Adelaide Airport’s CFO from 2001–2011 and managing director from 2011–2021, has also held positions at the SA Tourism Commission, the Australian Airports Association and the Airports Council International, and will take up a role as a non-executive director at Newcastle.
He will also sit on the board for the Greater Newcastle Aerotropolis, which oversees the airport’s defence and aerospace precinct, Astra Aerolab.
“I have watched the progression of Newcastle Airport into an exceptional and invaluable asset for the Hunter region and I am proud to assist with the next phase of the journey,” said Young.
“Newcastle Airport punches well above its weight in terms of leadership, transformation and being an economic driver.”
According to Newcastle Airport Chair Jude Munro AO, Young’s previous experience heading up Adelaide Airport will make him an “invaluable asset” at Newcastle.
“His extensive experience and strategic insight into aviation will be invaluable as construction on our international expansion project continues,” said Munro.
“We look forward to his contributions and leadership as we continue to build the airport our region deserves.”
Newcastle Airport is currently in the midst of a major upgrade to its international terminal, which will overhaul the building, including passenger and border processing facilities, to better support overseas flights. While the opening has been delayed to next year, CEO Dr Peter Cock last month said several key milestones are “on track”.
“We expect the project to be active in the end of quarter two in calendar year 25, so it’s a few months. That’s something that’s plaguing all infrastructure projects at the moment, so we’re not immune to that,” he said.
The airport secured $55 million in federal grant funding ahead of the 2022 election, with both major parties pledging the terminal upgrade to follow on from the airport’s $66 million runway upgrade.
The works coincide with upgrades by the RAAF, which owns the airstrip at the adjoining Williamtown base, meaning if the airport had not secured the money in time it would have had to wait until the next scheduled upgrades in approximately 2040.
Newcastle Airport signed a $240 million financing deal with the Commonwealth Bank of Australia in April last year, which will fund capital projects not covered by the grants, such as Astra Aerolab.
