Funding windfall for Newcastle Airport upgrade

Newcastle Airport has announced a $240 million partnership with Commonwealth Bank that would fund the airport's redevelopment, including a new international passenger terminal to be designed by Cox Architecture.

The terminal expansion is precipitated by airfield upgrades that will allow for larger, long-haul aircraft carrying up to 400 passengers - more than double the domestic 180-passenger capacity.

"The airport's expansion and modernization will significantly increase its capacity and improve connectivity across Newcastle, the Hunter Valley and the Central Coast, driving new business and employment opportunities that add to the region's prosperity," said Paul Fowler, Commonwealth Bank's executive general manager for regional and agribusiness banking.

The expanded terminal will be built on the site of an existing car park. A new car park began construction in late 2022.

That year, the federal government committed $55 million to the terminal expansion project.

Newcastle Airport annually services 12 domestic routes and 1.3 million passengers. The expansion will allow for new domestic and international routes and is expected to cater for 2.3 million passengers by 2028.

The terminal and airfields are expected to be operational by 2024.