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Three British airports in £800m aviation deal

Three British airports in £800m aviation deal

SPANISH infrastructure giant Ferrovial is looking to land Aberdeen, Glasgow and Southampton airports in a potential £800million deal.

» Airports - UK | Tuesday, February 18, 2014 • express
The three airports are owned by Heathrow Airport Holdings (HAH), previously BAA, in which Ferrovial holds a 25 per cent share although its HAH partners are keen to move their sole focus to Heathrow airport.
 
Ferrovial wants to diversify its business away from Spain’s struggling construction sector and the three airports would be better placed than Heathrow to benefit from aviation traffic growth because they have more spare capacity. The Spanish firm has held talks over its bid with at least two Australian funds, Industry Funds Management and Macquarie.
 
Ferrovial bought up ­Heathrow and several other British airports when it acquired BAA in 2006 for £10.3billion.
 
It has gradually sold off stakes to help pay off the debt it took on as part of the original acquisition.
 
Last year Ferrovial tried unsuccessfully to buy the five largest airports in ­Brazil. It has also been ­monitoring the possible sell-off of Chicago Midway in the US.
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