Bristol Airport owner to become independent company
29.07.09
Airport operator Macquarie Airports (MAp), which owns Bristol Airport, has reached an agreement with parent company Macquarie Capital to internalise its management and become a separate company. The deal is subject to approval by MAp security holders at a special general meeting.
The agreement means no further management fees will be paid to Macquarie by MAp. The elimination of these fees is expected to help the new company to maintain initial earnings per share despite the increase in internal management costs.
MAp CEO Kerrie Mather will retain her position and has been invited to join the board. The MAp management team, who are now employed by Macquarie, will be offered employment with the new entity and the company expects most to transfer to MAp.
MAp operates and part-owns Sydney International, Copenhagen Kastrup, Brussels International and Bristol International airports.
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