Australian govt to build second Sydney airport

The Australian govt said it will develop a second airport for Sydney after the operator of the existing airport passed up its right to build the new airport. Sydney Airport Holdings, the operator of Sydney’s Kingsford Smith airport, has the right of first refusal to build the new airport at Badgerys Creek, west of the city, but said it “has not accepted the offer in the Notice of Intention to develop and operate the Western Sydney Airport (WSA).” “The risks associated with the development and operation of WSA are considerable and endure for many decades without commensurate returns for our investors,” Sydney Airport MD Kerrie Mather said. The Australian govt said it will now develop the new airport, with details to be announced in next week’s federal budget. <br/>