Prospects for airport privatisation “look good” - Hochtief

But Dr Kalenda stated a shift has also taken place, with a “considerably larger” level of demand, as investment in infrastructure facilities become more popular. “Airports have been able to maintain the stable cash flows and yields that they promised and have thus gained the trust of investors. As a result, institutional investors have also begun to exhibit greater interest”, said Dr Kalenda.

As competition for the most attractive airports intensifies, investors are looking for new strategies to boost their financial clout. Privatisation processes, like Budapest Airport, have attracted big names, like BAA, Fraport/Deutsche Bank, Copenhagen Airports and Macquarie Airports. Hochtief AirPort is also in the running with its newly established Hochtief AirPort Capital (HTAC).

HTAC was created to “pack more punch” in the privatisation market and is the combination of three partners. After “intensive exploratory talks”, Hochtief AirPort created HTAC with Hastings Funds Management (Australia), Caisse de dépôt et placement du Québec (Canada) and KfW IPEX-Bank (Germany). According to Dr Kalenda, the partnership helps it “stay on the look-out” for major international airports.