"so we've been screwed over by the Liberal's at a Federal level for selling it all off"
Nope, this is a legacy from Keating's time. Can't blame Little Johnny for this.
States and local councils have no say in what happens on the federally owned airports allowing these developers to bypass normal planning requirements. eg , the brickworks at Perth airport, and the destruction of the bush at Janakot airport - which wouldn't have been allowed by the State government. However it will be the States and councils who will end up paying for a lot of the infrastucture leading into the federal land, with zero return. all bucks will be in the offshore accounts of the developers.
Read Hansard house of reps from 1st March re. amendments to the Airports Act, the tide may be turning....