Airports snap up opportunities overseas

Article Abstract:

Airport equity investment was not viable in the late 1980s and early 1990s. Yet in 2000, the private and public sectors are subscribing to a substantial proportion of quoted airport firms. Increasing air traffic congestion has also transformed hitherto marginal airports into valuable, sought-after assets. Although inter-airport equity stakes can be supported purely on an earnings basis, most of these stakes are linked to management and advisory contracts to enhance the investment return.

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Dividends in the longer term

Article Abstract:

The movement toward increasing privatization of airports throughout the world is increasing. Among the most notable are those in Mexico, Argentina, the US, the UK, Australia and Europe. The US government has offered little encouragement to private ownership of airports despite a very active airport bond market. Airports should note that their revenues could suffer with the movement of airlines towards fewer passengers due to consolidation of their operations. Despite the challenges, airport privatization seems to provide commercial opportunities and higher returns in the long run.

Organizational history

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Auckland leads New Zealand revival

Article Abstract:

Officials of the Auckland International Airport Ltd reported an upturn in their aircraft and passenger loads despite falling air traffic in the Asia Pacific region. Total passenger traffic declined 1.1% to 7.5 million while revenue increased by 10% due to higher concession and rental income in the new international airport. The government's floating of its 51.6% stake in the airport in June of 1998 was four times oversubscribed.

New Zealand, Auckland International Airport Ltd.

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