In the same way as other bidders and stakeholders in
the sale process, the Company was highly conscious of the rights and obligations
associated with ownership of the Airport, and accordingly, has endeavoured to
maximise both the aeronautical and commercial potential of the Airport in
accordance with its lease with the Australian Government. This scope of development
activity underpinned bids to the Australian Government and was confirmed with the
approval of the 1999 Canberra Airport Master Plan and the subsequent approval of
the 2005 and 2009 Master Plans. These Master Plans also included the rights to 24
hour non-curfew capability for at least the 99 year term of the lease. Canberra Airport
will use these rights to expand aviation opportunities and to meet its obligation and
desire to use the site as an airport.
The privatisation of the Airport in 1998 heralded a significantly increased investment
in aeronautical infrastructure. This investment has included, but is not limited to: