News: Sydney Airport to defends right to second a

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    Sydney Airport Holdings Limited’s (ASX:SYD) CEO Kerrie Mather has vowed to defend the company’s first right of refusal to construct and operate a second airport in Sydney.



    First right of refusal is a contractual right that enables its holder to make the first offer to enter a business transaction before it is made available to others.



    Ms Mather has told the Australian Financial Review the company’s first right of refusal is a commercial clause that it paid a handsome price for to the federal government.



    Ms Mather says the company hasn’t yet received a firm proposal from the government but is effectively being asked to buy an airport.



    According to the report the company plans to consider investing in a second airport in Sydney in the same way in which it reviews airport investments worldwide.



    Sydney Airport recorded a net loss of $279 million in the 2011 financial year.

 
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