CEO resigns, Airport to pay $1.7M to council
AT ITS board meeting on Monday Gladstone Airport Corporation approved payment of almost $1.7M to the Gladstone Regional Council.
It is the first of three annual payments that will be made in respect of tax equivalents and competitive neutrality fees by the airport corporation.
GAC as a corporation does not pay tax to the federal Government and the Australian Taxation Office, but must pay the equivalent of corporate taxes to its shareholder GRC, a statement from the corporation said.
GAC Chairman David Hamill said this payment represents a return to ratepayers based on the profitable operation of the airport.
The board has also received the resignation of Phillip Cash as the CEO of GAC.
They will appoint a successor.
"Mr Cash is a highly experienced airport manager who has made a significant contribution to the airport both in terms of its facilities and operations during the four years in which he fulfilled that role. We wish him well for the future," the statement went on to say.
The board has appointed Terry Dower, an operations manager in the capacity of interim CEO in order to ensure the continued safe and smooth running of the airport.