It was actually the Keating government that brought in the Airports Act, Coalition who handed out leases to developers and under Albanese's watch that they were allowed to run rampant while he sat back and let them interpret the leases in ways that meant the tenants got a very raw deal indeed (and of course Garrett who approved tilt up concrete to replace endangered wildlife habitats). Interestingly it was only Coalition MPs who ever took them to task over their attempts to get freehold and turn the airports into housing estates. The WA Nats were also very cosy with the developers. So...all sides of government are to blame for what crumbs we have now. It would be great to see them all squirm in a Royal Commission.
I'd add that the poor management of many aviation businesses is another reason the banks won't touch them!