Question. If the airport leaseholders can turn a profit from the leased airports why couldn't the federal government as the owner? Answer that and you understand the mess we are in.
Because when governments are in a tight financial spot and require a fast buck, they sell whatever they can. Like selling your house to pay off the mortgage. Solves one problem but creates another. As for turning a profit, governments could never get away with the outrageous gouging that the private operators do, with nary a second thought. After all thats how the capitalist system works. Unfortunately with major airports they usually operate as a monopoly. And we thought Macquarie was mad to pay such a high price for Kingsford Smith didnt we?