Peel sells airports stake to Vancouver Airport Services
in its airports business to Vancouver Airport Services (VAS), the Canadian operator.
and has a 75 per cent stake in Durham Tees Valley airport.
at the airports, which rely heavily on charter flights and low-cost airlines.
Investors, operates 16 airports around the world.
of more than C$530m (US$514m, £350m). Craig Richmond, who was running Nassau airport
in the Bahamas for VAS, will replace Mark Whitworth as chief executive of Peel
record of investing in and providing value-added management services for airports
around the world".
in the joint venture, together with our associated airport-related property, is
in line with our strategy of creating long-term partnerships to unlock value from
the relationship between our diverse infrastructure, transport and real estate
and increased annual passenger numbers to 5m. The latest accounts, for the year to March 2009, showed a 9% fall in turnover
from £53.4m to £48m, with pre-tax losses widening from £4.6m to £13m. Net debt
grew to £105.5m.
Canadian firm Vancouver Airport Services buys Liverpool John Lennon Airport
has purchased 65% of JLA’s owner, Peel Airports.
and City Airport near Manchester.
to March, 2009, and last year announced that it was looking for potential investors.