Ann: Western Sydney Airport Notice of Intention, page-3

I think SYD are in a big pickle here.

They cannot risk losing the opportunity to operate Western Sydney as it is a 24hr airport and they are already talking about it having a second runway.

But if they have to stump up the development capital with a long lead time to cashflow I think distributions will have to be cut.

The federal government will play hardball on this as they are not in a position to make handouts.
You can be sure that preliminary discussions have also taken place with other parties keen to operate the airport.

Tricky!