Australia Pacific Airports Corporation (APAC), in conjunction with the Launceston City Council, acquired the lease for Launceston Airport in May 1998.

The Airport is located 15 kilometres south of Launceston on the Evandale Main Road, 3 kilometres from the Midland Highway Junction and 5 kilometres north of Evandale.

The Airport is majority Australian owned and is managed locally for the benefit of the region. Australia Pacific Airports Corporation Limited (APAC) operates two Australian airports - Melbourne and Launceston.