New airport joint venture discussed in Spain

John Gallagher

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Abertis, ACS and airport authority AENA are said to be in negotiations to create a joint venture to represent the three companies' airport management interests

Spanish infrastructure specialist Abertis is negotiating with Madrid-based construction group ACS and Spanish airport authority AENA to set up a joint-venture company to manage the airport management and concession interests of the three companies.

The company could be formed as early as next month and will allow the three companies to compete more effectively for international privatisation tenders, especially in Latin America and eastern Europe. Sources have suggested that the new company is being created to prepare for the possible privatisation of AENA in the mid- to long term.

Last year Abertis and AENA took control of UK airport operator TBI, via joint venture Airports Concession and Developments (ACDL) . TBI runs Belfast International, London Luton and Cardiff airports in the UK, and also operates airports in Sweden, Bolivia and the US.

In addition to its 10% stake in ACDL, AENA has interests in Grupo Aeroportuario del Pacifico (GAP) in Mexico and in the Colombian airports of Cartagena, Barranquilla and Cali. It also manages Cayo Coco in Cuba

ACS, following its merger with Dragados in 2003, has minority stakes in airport operators in Santiago de Chile, Montego Bay, Cali and GAP in Mexico. ACS also has a 20% shareholding in Abertis.