| Journal: TWUK | Section: |
| Title: | Issue Date: 12/06/00 |
| Author: | Page Number: 26 |
| Copyright: Other |
Birmingham international
Airport sees investment soar
Report by LOIS JONES
BIRMINGHAMInternational Airport has received increased investment from its major private shareholders as it looks to expand its short and long-haul network.Dublin airport owner Aer Rianta and Bridgepoint Capital, formerly NatWest Equity Partners, have increased their three-year-old stake in Birmingham from 40% to 48.25%.
The pair have acquired the shares from John Laing Investments and National Car Parks, who respectively held a 4% and a 4.25% shareholding.
BIA director of business development Peter Vella said the price paid to increase the Aer Rianta/Bridgepoint stake was not revealed as BIA is a public/private partnership.
The seven district councils of the West Midlands retain a 49% stake in the airport, with the remaining 2.75% taking the form of an employee share trust.
“The next crop of new routes will be launched at the start of the winter season.”
He could not reveal new services as BIA was awaiting confirmation from airlines.
The airport is aiming to launch new European and transatlantic services and is holding talks with incumbent and non-resident carriers. Delta has been approached to start flights to Atlanta and TWA to St Louis.
New European routes under consideration include Lisbon, Athens, Oslo, Mediterranean coastal routes and services to central European cities.
British Airways flights, operated by Maersk Air and British Airways Regional, cover European destinations from the airport.
They are expected to increase this year as BA acquires new aircraft to operate on longer flights.
This year, BIAhas added flights to Pakistan and increased flights to former Russian states including Turkmenistan and Uzbekistan.
Following its improved investment, Aer Rianta will have three seats on BIA’s board of directors. The Midlands airport was restructured in 1997, when Aer Rianta, in partnership with Bridgepoint, acquired a 40% shareholding.
BIA: keen to expand its short and long-haul network