Macquarie Airports Management (MAp) has asked for a two day trading halt of its shares on the Australian Stock Exchange (ASX).

"MAp expects to make a significant announcement regarding strategy options to enhance security holder value within that timeframe," says the company.

On 24 June MAp marginally increased its majority stake in Sydney Airport to 74% from 72.1% after paying A$711 million ($565 million) to join other shareholders in reducing the airport's debt.

The shareholders invested $870 million to pay off debt that was due to mature in September and November, MAp said in a statement. This resulted in Macquarie having a bigger stake in the airport, which serves Australia's largest city Sydney.

For the month of June Sydney Airport reported a 4.1% drop in passenger throughput as both domestic and international demand continued to weaken.

Source: Air Transport Intelligence news