Macquarie Airports increases stakes in JATCo and Brussels airport

Tina Milton

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The Australian airports group has revealed two further investment initiatives to grow its airport interests

A Macquarie Airports (MAp) led consortium has increased its stake in Japan Airport Terminal Co (JATCo) to 19.9%. MAp’s interest in JATCo is 14.9% and its total investment in JATCo is Y35.6bn ($0.31bn).

MAp CEO Kerrie Mather commented: “Our interest in JATCo represents a long-term strategic investment in a well-managed, high-quality business. Our objective continues to be to develop a constructive, mutually beneficial relationship over time.”

She added: “MAp has an excellent record within its existing airport business portfolio and has successfully collaborated with the management team at each of the airports in which it has invested to enhance the passenger experience and improve choice. We hope to engage JATCo on similar opportunities. At the same time JATCo successfully operates the fourth largest passenger airport in the world and MAp hopes to be able to learn from its experiences.”

The news comes as MAp announced it had acquired an additional 5% interest in Brussels airport from the investment division of the Belgian state Federale Participatie-en Investeringsmaatschappij (FPI) for €78m ($110.9m).

Mather said: “We are delighted to have the opportunity to increase our investment in this high-quality asset. Brussels airport has been an excellent performer since we made our initial investment, generating EBITDA of €195m [$277.3m] in the 12 month period to June 30, compared with €136m [$193.4m] in the 12 months immediately before our acquisition.