THREE major UK airports have been "put up for sale" with the owners looking to capitalise on a boom in air travel. The trio of British airports are estimated to be worth as much as £1.5billion each.
Ontario Teachers' Pension Plan (OTPP) is in talks with its minority shareholders, who have a 30-day window to buy its stakes in five European airports, including London City Airport, Birmingham Airport and Bristol Airport, according to the Times. Copenhagen and Brussels are the other continental assets which could be offloaded. The five airports are estimated to be worth more than £10billion combined, reports the outlet.
OTPP owns stakes in each varying from 25 per cent to 70 per cent, meaning its share could be worth more than £3.5 billion. The sale could also spark a flurry of action as other investors may look to sell their shares, with Australian giant Macquarie already circling.
Jet2 announced record profits last week, and easyJet is expected to report strong numbers this week – a sign that air travel is bouncing back big time. Other UK airports have already changed hands this year, with investors keen to get a slice of the action. Spanish firm Ferrovial sold its stake in Heathrow to a Saudi-French consortium for £3.
3 billion, while French group Vinci bought a majority stake in Edinburgh Airport for £1.3 billion. AGS Airports, which runs Aberdeen , Glasgow, and Southampton, was sold for £1.
5 billion to a Canadian pension fund earlier this month. Experts say these deal.
