Report by John Lavabre
BAA has expanded its Australian operations with the
acquisition of a stake in Perth International Airport and the Northern
Territory Airports’ of Darwin, Alice Springs and Tenant Creek.
The airport operator led a consortium which included the
Australian Infrastructure Fund and the Utilities Trust of Australia. Together
the consortium acquired a 19.9% stake in the Northern Territory airports and
16.1% stake in Perth Airport. The consortium paid a total of £30 million, AS$83
million, for the shares.
BAA, which already operated Melbourne and Launceston
airports, has acquired the biggest cut. It has taken a 15% share in Perth and
10% share in the Northern Territories, the remainder is being split between AIF
and UTA.
BAA plans to develop Perth’s retail facilities and expand
the property business. In the Northern Territory’s it hopes to develop the
route network.