Sydney Airport rejects offer to develop and operate Western Sydney Airport

Sydney Airport advised (02-May-2017) the Australian Federal Government that it has not accepted the offer in the Notice of Intention (NOI) to develop and operate the Western Sydney Airport (WSA). Upon receipt of the NOI in Dec-2016 and after taking into consideration the feedback from the recent market engagement process and investors, and the outcomes of its own evaluation, Sydney Airport determined that the terms of the WSA NOI do not meet its investment criteria. Sydney Airport MD and CEO Kerrie Mather stated despite the opportunities that WSA will present, the risks associated with the development and operation of WSA are considerable and endure for many decades without commensurate returns for our investors. [more - original PR]