After reviewing the Notes to the Financial Statements, I did not find anything that was of concern to me but I did find it quite interesting that the Melbourne International Airport operates as an individual entity that is financially self-sustaining. Although the airport does not provide a financial benefit or impose a financial burden on the City of Melbourne, the City must approve the Airport Authority's budget and its bonded debt issuances. I think it is an interesting concept that although the Airport does not hinder or enhance the financial outcome of the City overall, the Airport Authority budget must still be approved by the City. This is very interesting indeed. It seems like the city has some kind of hold over the airport.
Does this seem ethical to you?
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