Thu, 13 Oct 2011 | BUSINESS SALE
The owner of Glasgow Prestwick Airport, New Zealand-based infrastructure investment firm Infratil, is mulling a sale of the business due to falling passenger numbers.
Infratil has seen footfall decline at both the Glasgow airport and the Manston Airport in Kent, which it also owns. Passengers flying into or out of Glasgow Prestwick fell by 13.5 per cent, equivalent to 228,000 people, for the year ending July.
Ryanair - Prestwick’s largest scheduled carrier - is set to cut flights to Stanstead, Girona and Salzburg next month, raising concerns about the future viability of the airport.
The news comes as the pushed sale of one of BAA’s Scotland airports - either Glasgow or Edinburgh - is to be accelerated. It is predicted by industry experts that BAA’s Glasgow airport is more likely to be sold off.
Marko Bogoievski, the chief executive of Infratil, commented, “Glasgow isn’t performing. It’s a difficult asset to see in the portfolio in the long term.”
Funds generated in the sale could be used on other airports or to develop its energy operations in Australia and New Zealand – a more reliable source of earnings, he said.
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