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Thursday 24th of July 2014
Sydney Airport plans major overhaul
Sydney Airport has announced plans to house Jetstar and Qantas, as well as partners including British Airways, under on roof. This would involve the airlines moving all operations to what are presently the T2 and T3 domestic terminals. Australia’s number two carrier would move its operations over to Sydney’s international terminal.
If the plans go ahead, then Qantas could receive around $350 million after handing back leases it has taken out on its domestic terminal, the jet base and the freight terminal. The lease on T3 was due to expire in 2019, and leases on other assets are due to expire the following year.
Under the latest proposals, Virgin Australia would get a new hanger for maintenance work, and Qantas would get a new line maintenance engineering complex. The plans are part of a project to make Sydney Airport more competitive with the country’s other major airports such as Melbourne.
Analysts say the scheme will improve use of airport assets such as car parks, and increase passenger volumes. The plans will also reduce the need to move planes across runways, improve turnaround times and reduce operational disruptions. According to Andrew Chambers, a Legg Mason research analyst, capacity restraints would be delayed by the overhaul and passengers would be able to spend a greater amount of time shopping, as they would not have to travel between terminals for flights.
Kerrie Mather, Sydney Airport’s chief executive, said the cost of the overhaul was yet to be fully worked out as the idea was still in the concept stage.
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