Airport buyout confirmed
- Credit: Archant
A MULTI-MILLION pound buyout of Bristol Airport will be completed by the end of the month.
Ontario Teachers’ Pension Plan (OTPP) is set to buy out its co-owner Macquarie European Infrastructure Fund (MEIF).
Speculation has dragged on throughout the summer but the deal was finally announced at the end of last week.
The exact amount OTPP paid for the remaining 50 per cent share has not been publicised, although it is rumoured to be about £250million.
Robert Sinclair, Bristol Airport’s chief executive, said: “MEIF’s long association with Bristol Airport was a period of unparalleled passenger growth and development which saw it become one of UK’s leading regional airports.
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“MEIF and OTPP have been instrumental in supporting the expansion of the airport’s route network and significantly enhanced facilities for passengers.
“We look forward to working with OTPP to continue investing in the airport for the benefit of the region we serve.”
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OTPP has stakes in airports across Europe including Birmingham, Copenhagen and Brussels.
The buyout will not affect Bristol Airport’s expansion plans with the aim being for the Lulsgate site to cater for 10 million passengers by the end of the decade.
The work, it is hoped, will lead to the reintroduction of long-haul flights to Bristol - something that has not been seen since Continental withdrew its New York service in 2010.