Australian Adventure Tourism Group Limited Stock Market Press Releases and Company Profile

Queensland Government announces $1,000,000 contribution to commence Whitsunday Skyway Project

QLD Government supports Whitsunday Skyway Project
QLD Government supports Whitsunday Skyway Project

Sydney, Oct 28, 2020 AEST (ABN Newswire) - Australian Adventure Tourism Group Limited (googlechartNSX:AAT) has previously advised shareholders and the market about its proposed development of the Whitsunday Skyway Project at Airlie Beach on the Whitsundays mainland.

Whitsunday Skyway is a gondola cableway project proposed to be developed and operated by AAT, to connect the centre of Airlie Beach to the summit of an un-named hilltop in the adjacent Conway National Park, to provide magnificent scenic vistas over the Coral Sea and Whitsunday Islands. The Whitsunday Skyway Project has been on AAT's drawing boards seeking regulatory approval for several years.

The Palaszczuk Government has announced it is backing the Whitsunday Skyway Project. Premier Annastacia Palaszczuk said a re-elected Labor government would contribute $1 million in matched funding towards the project for the purchase of additional land for Conway National Park. (See attached full text of the Government's announcement).

The effect of this backing is to effectively allow for additional freehold land adjoining the Conway National Park to be acquired to add to Conway National Park, to more than replace the small parts of the Conway National Park that will accommodate the proposed Whitsunday Skyway infrastructure. In practical terms this announcement marks the removal of the main obstacle to the commencement of the Whitsunday Skyway Project, which will be a major new project and long term employer and revenue generator for the Whitsunday Mainland and nearby islands.

Since 1984, AAT has owned and operated the Magnums Backpackers Resort in central Airlie Beach on the Whitsunday mainland, which has traditionally catered primarily to Australian and International Backpackers.

While this market segment has progressively diminished over the last decade, for many regional Australian towns like Airlie Beach, the dominant industry and employer is Tourism, and the tourism infrastructure must change to adapt to the needs and demands of the changing tourism markets.

The AAT directors believe Whitsunday Skyway Project will be a catalyst for transitioning and expanding the existing tourism base of the Whitsundays mainland - catering to new markets such as Cultural, Environmental and Sustainability education as well as the traditional drive and coach tour markets.

To view the Government Announcement, please visit:

About Australian Adventure Tourism Group Limited

AATGListed on the National Stock Exchange of Australia. 

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