The Airtrain service is a private enterprise. The line is owned and operated by Airtrain Citylink Limited, with financial backing from Transfield Services, Macquarie Bank, Colonial First State and ABN AMRO. The first service ran on 5 May 2001. Airtrain Citylink has a licence from Queensland Transport under a BOOT scheme – build, own, operate and transfer – to build the rail line, to own and operate it, and hand entire infrastructure over to the Queensland Government after 35 years when the company will then cease to exist. The line connects seamlessly with the Queensland RailCity network and services use City network rolling stock in a commercial agreement with QR. While City network rolling stock is used, Airtrain does not form part of the TransLinkintegrated public transport scheme, and therefore fares are not subsidised by the government. As a result, travel between the airport and City network stations in the Brisbane central business district costs $19.00 one way and $36.00 return. Travel on Airtrain services between ordinary City network stations, not involving airport travel, is charged at the normal TransLink rate, including concession rates. In 2008, Brisbane's Airtrain ran an operating profit of $4.8 million, allowing Airtrain to pay dividends of $1.95 to its shareholders. Airtain is not subsidised by the Queensland Government, and its $220 million construction cost was entirely privately financed. This makes it one of a few known profitable public transport systems. In late 2012, U.K. pension fund Universities Superannuation Scheme bought Airtrain for.
Patronage
Initial passenger numbers on the service were well below expectations and the company nearly faced voluntary administration in 2003. However, in May 2005, Airtrain operated at a profit for the first time due to significant passenger growth – 1.12 million passengers in the 2004-2005 financial year, an increase of 40% – and a complex company restructure that cut costs by nearly half. Passenger numbers on the service have also steadily increased, now close to two million passengers each year. In 2008, 6% of visitors to the airport used an Airtrain service. This figure rose to 8% in 2011.
Brisbane Airport Corporation has proposed a new station at its Skygate retail park at the south-western edge of the airport. Discussions have taken place with Airtrain Holdings Limited and the Queensland Government.