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The Australian Foreign Investment Review Board has given its approval of the $23.6 billion takeover bid for Sydney Airport by a consortium of super funds and global investment partners.
Sydney Airport recorded a 665 per cent increase in passenger traffic in November compared to October, as Australia’s international and domestic borders began to ease.
The competition commission’s chair, Rod Sim, used his verdict to attack how airports in general have “significant market power and no price regulation”.
Upgrades include a second, longer baggage belt for arrivals, more space for immigration processing and expanded security screening. The retail precinct is also 80 per cent bigger.
The federal and state governments announced in October that Cathay Pacific would return to Hobart to recommence regular direct cargo flights to Hong Kong, after a number of successful similar flights took place last summer.
The airport said the new acquisition will allow the airport to provide “open and transparent” access to aviation fuel, and that it will be looking for opportunities to contribute to the “transition to future sustainable aviation fuels”.
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