Sydney Airport announced on Wednesday that the New South Wales Supreme Court has approved the $23.6 billion dollar purchase of the airport through the Sydney Aviation Alliance.
A consortium led by New York-based Global Infrastructure Partners and the super-fund backed IFM Investors purchased the airport for $8.75 per share in cash.
The new ownership of Sydney Airport includes a 37 per cent stake by Global Infrastructure Partners, followed by 32.9 per cent held by IFM, a 15 per cent holding by UniSuper, and AustralianSuper and QSuper both holding 7.5 per cent each.
The purchase comes as airlines amp up their international offerings due to Australia opening its borders to international arrivals on 21 February for the first time in two years.
British Airways will launch its first passenger flight between Sydney and London since April 2020, which will take to the skies on 29 March 2022.
British Airways’ head of sales, APAC, Noella Ferns is excited about the border reopening and what it will mean for separated families Ferns said:
“We can’t wait to welcome our customers back on board our Sydney to London flights and we will be honoured to play our part in reuniting families and friends with their loved ones after such a long time apart”.
Qantas will relaunch six international routes in coming weeks as it experiences a demand surge.
Qantas Domestic and International CEO Andrew David said bookings for inbound flights doubled in the 24 hours of the border reopening announcement.
David said: “Bookings are the strongest out of the US and UK and we’ve also seen spikes from South Africa, India and Canada, with march, April and May the most popular months for travel”.
Economy Reward Seats on Singapore Airlines returned to the Velocity Frequent Flyer loyalty program from Monday. The ability to book Velocity Reward Seats in Singapore Airlines’ premium cabins, along with the ability to transfer points between KrisFlyer and Velocity, is expected to resume shortly.
Velocity Frequent Flyer CEO Nick Rohrlach said: “Today is a new chapter for Velocity Frequent Flyer with the return of Reward Seats on Singapore Airlines.
“We know how much our members value the incredible service and expansive network of destinations across Asia and Europe that Singapore Airlines offers, and we are really thrilled to have their seats back in the program.”