Yet Another reason why we need Trains not Tollroads: Huge shortfall in Airport Link revenue leaves BrisConnections in strife

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The Airport Link tunnel is running a daily deficit of about $900,000.                                           Picture: Adam Smith 

PREMIER Campbell Newman ruled out a move by the State to take over the troubled Airport Link, as new figures reveal the tunnel is costing $1 million a day to operate.

“That’s a matter for the private sector and their investors.”

Brisbane’s Airport Link is costing $1 million a day to operate – about 10 times the daily average being raised by the tolls levied on users.

The startling figures are contained in a December quarter financial statement released by tunnel operators BrisConnections, which also reveals an average of just 47,102 vehicles used the tollway each day in December.

That figure is about a third of the traffic forecast to be using the tunnel after the end of the toll-free period – which was projected to rise from 35,000 shortly after opening to 160,000 within the first 12 months.

The financial statement shows that since opening on July 25, the company has collected an average of $45,000 a day in tolls…

Trading in BrisConnections’ shares remains suspended while company directors try to sort out their financial woes.

Robyn Ironside, The  Courier-Mail, February 06, 2013

To read more go to: http://www.couriermail.com.au/news/queensland/huge-shortfall-in-airport-link-revenue-leaves-brisconnections-in-strife/story-e6freoof-1226571150440

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