Fraport AG eyeing stakes in Athens and UK airports
Germany’s Fraport AG Senior Vice President for Global Investments and Management Alexander Zinell stated the company may be interested in investing in Athens International Airport and some airports in the UK to complement its existing portfolio of international airports (Reuters, 16-Nov-2010). Mr Zinell stated Fraport is looking at acquiring assets in emerging and mature markets. Fraport helped Hochtief, which owns a 45% stake of Athens International, to develop the airport and the Greek Government is selecting advisors for the stake sale. Fraport is also keeping track of the potential sale of some of BAA’s London Stansted and either Edinburgh or Glasgow airports. Additionally, Fraport plans to continue its push into emerging markets and is considering opportunities in China, Brazil and Puerto Rico.
Fraport AG: “International airports make up a quarter of our core profit, we are looking to increase that to a third, hopefully in the next five years. The Greek government is considering selling down on its 55% stake in Athens Airport, they need to cut their debt. This is a great asset we know well, we would look at investing in it. We are also following the BAA situation in Britain, we like the Scottish airports because they have a good traffic mix with a diverse airline base, not just low cost carriers,” Alexander Zinell, Senior Vice President for Global Investments and Management. Source: Reuters, 16-Nov-2010.