Australia's Macquarie group to buy UK airports

Australia's Macquarie group to buy UK airports
By admin


Spain's Ferrovial, which holds a leading share in London's Heathrow airport, says it is buying three more British hubs for 1.3 billion euros ($A1.95 billion) with Australian group Macquarie.

The two construction giants struck a deal to jointly buy the airports in the Scottish cities of Glasgow and Aberdeen and the southern English city of Southampton for STG1 billion ($A1.83 billion), Ferrovial said in a statement on Thursday.

A consortium owned half by Ferrovial's airport subsidiary and half by "Macquarie Infrastructure Fund 4" has reached a deal to buy all the shares in the airports, currently owned by Heathrow Airport Holdings.

More than 10 million passengers passed through the three airports between January and September this year, according to the holding company.

The deal is subject to approval by European regulators and is expected to be sealed by January 2015, the statement said.

Ferrovial has been expanding overseas as Spain slowly recovers from the crash of its domestic construction sector in 2008.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Latest News

  • Cruise

P&O rescues Rotary volunteers after collapse of Air Vanuatu

P&O Cruises Australia has answered a plea for help from a group of young Australian Rotary volunteers, stranded in Vanuatu following the collapse of Air Vanuatu. The students, many of them teenagers from Albury, NSW, were volunteering for a youth project run by the Hive Rotary Club Australia when the airline abruptly cancelled all flights, […]

  • Destinations

Intrepid continues expansions with launch of first DMC in Jordan

Intrepid has increased its presence in the Middle East with the opening of its first destination management company in Jordan. Based in Amman, the local team will operate Intrepid’s range of nine experiential small group tours in Jordan from this summer, with a view to expanding the range for 2025 and beyond. Zina Bencheikh, managing […]

  • Appointments

Minor hotels appoints Puneet Dhawan to key Asia role

Global hotel owner and operator Minor Hotels has appointed Puneet Dhawan as head of Asia as the group plots its growth in Asia and India. From July, Dhawan will be responsible for the performance of all Minor Hotels properties in Asia, working in close collaboration with the Minor Hotels senior leadership team and will report […]

  • Appointments

Abercrombie & Kent and Crystal appoint Evon Ler to director of sales, Asia

Abercrombie & Kent Travel Group have announced that Evon Ler will join them in the new role of director of sales, Asia. She will work closely with Tony Archbold (VP, Sales, APAC, Crystal) and Susan Haberle (VP, Sales & Partnerships, APAC, A&K) with trade support across the region. Ler comes to the A&K family with more […]