When Brad Loxley started working at Luna Park in 1998, his first job was to usher excited punters to their seats on the Tango Train.

Eighteen years later — and now the senior manager of the fairground — Mr Loxley is bidding his favourite ride goodbye.

The Tango Train, which has excited Australian festival and fairgoers for decades, will take thrillseekers on one last ride Monday before being dismantled.

"I've spent a lot of time on the Tango Train, working on it and riding it," Mr Loxley said.

"It will be disappointing to see it go... but the excitement for the new ride is definitely outweighing the sadness."

The new ride, the name of which is closely guarded, is being made in Italy.

The Tango Train spins its riders around a track at scream-inducing speed.

Mr Loxley said it would have "wider appeal" than its predecessor by having a lower height restriction than the Tango Train.

"The rides are a little bit like cars — when they get old, they become more maintenance-intensive and expensive to operate," he said.

"So we're going to retire it for a newer ride which is going to be more efficient.

"We'll be able to move guests on and off quicker."

The Tango Train was built in Germany in 1980 before it was shipped to Australia.

It toured the country until 1988 after which it moved to Sydney's Darling Harbour.

In 1995, Luna Park became its home.

Ben Loxley says the Tango Train is expensive to maintain with the light bulbs having to be replaced regularly. ( 702 ABC Sydney: Amanda Hoh )

"The thing that makes the Tango Train fun is that you're sitting with two other people in the seat," Mr Loxley said.

"You get really close to other people, closer than what you would do in real life so I think that's part of the fun."

That was exactly the experience for school student Leesha, who spoke to 702 ABC Sydney after hopping off the Tango Train with two of her friends.

"It was just so fun, but because I was in the middle, [my friends] were all just squishing me," she said.

"I was in so much pain but I was laughing so much because they were screaming at me."

After being dismantled the Tango Train will be sold for spare parts.

The new ride will open later this year.