Australian bank Macquarie is beginning to look for potential buyers for the Bristol airport in an effort to raise cash and make repayments to its investors.
The airport, which was valued at £283m in 2006, is said to be of interest to Fortis and Prudential’s M&G’s infrastructure fund. Fortis recently acquired the George Best airport in Belfast.
It is thought that interested parties would offer less than its estimated worth in 2006 due to a recent fall off in its passenger numbers, which has fallen by 20% so far this year as cost conscious travellers cut back on flying.
Macquarie and Cintra purchased the airport in 2001 for £198m, and in 2006, Macquarie bought Ferrovial’s 50% stake for €158m.
The airport had £150 million expansion plans, which would create 4,000 new jobs, and was about to submit a planning application to North Somerset District Council.
The plans included a hotel and multi-storey car parks, and were said, by the airport, to be necessary for an estimated rise in passengers from six million a year in 2008, to 10 million a year by 2016.
