SYDNEY May 2 Sydney Airport Holdings Ltd
on Tuesday said it would not take up its rights to
develop a A$5 billion ($3.76 billion) second major airport in
the city's west, meaning it could lose its monopoly status
within a decade.
The decision clears the way for the Australian government to
build the airport expected to open in late 2026 itself, as is
widely expected, or to offer the development to other groups,
such as pension funds and infrastructure funds.
Sydney Airport Chief Executive Kerrie Mather said in a
statement that it was in the best interest of investors for her
company to decline the option to develop the airport based on
the proposed terms, which did not include any government aid.
($1 = 1.3287 Australian dollars)
(Reporting by Jamie Freed, editing by G Crosse)