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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Taki who wrote (116554)7/8/2003 3:12:52 PM
From: Taki  Read Replies (1) of 150070
 
(COMTEX) B: Sydney Airport to cut up to quarter of workforce
B: Sydney Airport to cut up to quarter of workforce

Jul 08, 2003 (The Australian Financial Review - ABIX via COMTEX) -- Sydney
Airports Corporation (SAC) is about to lay off staff to cut costs. The company's
CEO, Max Moore-Wilton, on 9 July 2003 will brief staff on an internal
reorganisation that analysts expect includes the axing of between 50 and 100 of
the airport's 400 workers. A Macquarie Bank-led group bought the airport in 2002
for $A5.6 billion. SAC had targeted an increase in pre-tax earnings in 2002-03
to $A380 million, from $A316 million in 2001-02. However, since that forecast,
the severe acute respiratory syndrome (SARS) epidemic, the war in Iraq and
continuing fears of terrorist attacks have forced airlines to reduce flights.

Publication Date: 9 July 2003


SYDNEY AIRPORTS CORPORATION LIMITED:
MACQUARIE AIRPORTS - ASX MAP:
MACQUARIE BANK LIMITED - ASX MBL:
MACQUARIE EQUITIES LIMITED:
AUSTRALIA. NATIONAL COMPETITION
COUNCIL:
AUSTRALIAN COMPETITION AND CONSUMER
COMMISSION

By Jane Boyle

All copyright subsisting under the Copyright Act 1968 (Commonwealth) resides in
us.
No part of the copyright materials may be reproduced, re-used, re-transmitted,
adapted, published, broadcast or distributed for any commercial purposes
whatsoever without our prior written permission.

-0-


INDUSTRY KEYWORD: Services to Transport
SUBJECT CODE: AIRPORTS - NEW SOUTH WALES
DOWNSIZING OF ORGANIZATIONS - NEW
SOUTH WALES
BUSINESS FORECASTING - AUSTRALIA

*** end of story ***
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