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Capital Funding and Liquidity
On 5 October 2017, the Australian Government and the Company entered into an Equity Subscription Agreement (ESA) whereby the Australian Government will provide funding of up to $5.3 billion to the Company to develop Western Sydney International. The majority of funding will be allocated to the construction of core Airport infrastructure including airside civils, runways and taxiways, terminal buildings and car parks which are required to operate a fully-functioning international airport.
As at 30 June 2019, total equity of $594.0 million had been provided to WSA.
In FY2018–19, WSA incurred a loss after tax of $252.0 million and is in a net assets position of $62.1 million. The Company has sufficient funds to meet its existing financial obligations at Statement of Financial Position date, and the Australian Government has committed to make ongoing equity funding available to ensure that the development of Western Sydney International can be executed as planned.