Auckland Airport to sell entire interest in North Queensland Airports

Company News

by Kathy Skantzos

Auckland International Airport (ASX:AIA) announced today it will offer its 24.6 per cent investment in North Queensland Airports for sale to existing investors for $370 million.

Perron Investments and The Infrastructure Fund have already agreed that they will accept up to the entire offer comprising all of Auckland Airport’s interest.

Auckland Airport Chief Executive Adrian Littlewood said the sale will enable the airport to focus its attention on growing its New Zealand travel, trade and tourism business.

He said the proceeds from the sale will go into supporting its recently announced aeronautical investment growth over the next five years.

Auckland Airport recorded a by 6.3 per cent increase in international passengers and a 10.8 per cent increase in US visitor arrivals in November compared to the same time last year.

Shares in Auckland International Airport (ASX:AIA) closed 2.05 per cent lower yesterday at $5.74.