BIA to be sold for £198 million

Report by John Lavabre

BRISTOL International Airport is to be sold off in a deal worth £198 million.

Contracts were exchanged today between current owners Bristol City Council and FirstGroup plc and the buyers, Australian investment bank the Macquarie Bank Group and Spanish infrastructure company Cintra Concesiones de Infraestructuras de Transporte. The deal is expected to be completed by the end of January.

The management and staff will all be retained.

Macquarie and Cintra plan to develop the range of scheduled and charter services available from BIA.