Supriya Ghosh (Editor)

Sydney Airport Holdings

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Covid-19
Type  Public
Founded  2002
Traded as  ASX: SYD
Headquarters  Sydney, Australia
Industry  Aviation services; Airports
Area served  Sydney, New South Wales, Australia

Sydney Airport Holdings (ASX: SYD) is a publicly–listed Australian holding company which owns an 84% interest in Sydney Airport via Sydney Airport Corporation. The company is listed on the Australian Stock Exchange and has its head office located in Sydney, New South Wales.

History

In 1989, Qantas Airways bought a 30-year lease on the domestic terminal of Sydney Airport, but sold it back to the Airport's operator in August 2015 for 395 million USD.

In 2002, the Macquarie Bank bought a 99-year lease on the airport for $5.6 billion.

The company was known as Macquarie Airports as a combination of trusts managed by Macquarie Group until it was spun off in 2009 to form MAp Airports. MAp owned shareholdings in Brussels and Copenhagen Airports besides Sydney until 2011 when the company sold its shares to concentrate on the latter, though retained a 1% holding in Bristol Airport. The company was renamed as Sydney Airport Holdings on 19 December 2011.

In March 2009, a Hells Angels bikie was killed in the Sydney Airport after a brawl broke out.

In 2011, MAp Airports traded its stakes in the Brussels and Copenhagen airports to the Ontario Teachers' Pension Plan in exchange for the OTPP's 11% stake in Sydney airport. In December 2011, MAp Airports renamed itself Sydney Airport Holdings. The company retained a 1% stake in Bristol Airport until 2013.

In December 2012, eight custom officers were arrested for accepting bribery in exchange of drugs being imported in the country through the airport.

In August 2013, it was revealed that, since the airport had been acquired by the Macquarie Bank in 2002, it didn't pay corporate taxes, even though all other airports in the country did. In November 2013, the Macquarie Bank sold its shares of the airport back to its own shareholders, cashing $377 million in the process.

In April 2016, Sydney Airport announced it will lift its ban on Uber cars within the airport (only UberBlack cars were allowed) and create a dedicated pickup zone.

In May 2016, it was reported that the Sydney Airport plane tracking system was regularly failing, leading planes to disappear from the radars. In April 2016, this issue occurred 15 times. In 2013, the Sydney Airport was already showing flaws with its check-in system that led Virgin to cancel 12 flights for security reasons.

References

Sydney Airport Holdings Wikipedia


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