Zealand-based infrastructure and utilities investment group Infratil is eyeing more
airport buy-ins in Europe after continuing to report profit growth on the back
of its two existing airport holdings.
company, which has a 66% stake in Wellington International Airport in New
Zealand’s capital city and a 67% stake in Glasgow Prestwick Airport in Scotland,
has been seeking additional airport investments for some time.
no specific details of which countries it is focusing on as part of its plan to
expand with additional airport investments but says management is continuing to
“work on a number of emerging airport opportunities in Europe”.
says in releasing its financial results for the year ended 31 March 2003 that
Wellington International Airport’s earnings before interest, tax and
depreciation increased to NZ$33.79 million ($20 million) from NZ$24.62 million
the previous year. Passenger numbers increased 5.3% to 3.9 million during the
says the airport benefited during the year from an increase in aeronautical
revenues following a controversial move to substantially boost user charges
from 1 July 2002.
Prestwick International Airport, meanwhile, reported earnings before interest,
tax and depreciation of £5.04 million ($8 million) during the 12-month period,
up from £3.55 million, says Infratil. Net profit after tax stood at £1.19
million, up from £0.63 million. Total passenger traffic grew 14% to 1.48