Transportation Industry
CAA invests for ATM dividend
Airports International, March, 1995
David Olsen
General Peter Gration, a former Chief of the Australian Defence Force, was appointed Chairman of the Australian Civil Aviation Authority (CAA) in 1993. He leads the organisation as the country embarks on one of the biggest ATM projects in its history. David Olsen reports.
Although Australia's CAA is modelled on the UK CAA, it is not subject to the same borrowing restrictions as its counterpart. "Australia does not have that problem," says Gration, "we go to the Government Loan Council and if we make the case they tell us to go and borrow the money." Although the Council keeps a general control over the borrowing by government bodies, since it appears as government debt, the CAA can, within limits, borrow on the open market.
As the story...
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