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!
SYD Price at posting:
$6.54 Sentiment: None Disclosure: Not Held
