THE chief executive of Infratil has not ruled out selling stakes in Manston airport if a buyer can be found, according to a business website. Marko Bogoievski is quoted on www.stuff.co.nz in an article prompted by the New Zealand based company posting big business losses. The website reports that analysts said Infratil’s European airports, including Kent International Airport and Glasgow Prestwick, and energy developments were the most likely assets to go on the block.
Infratil Airports Europe posted an $18.9m loss compared with $1.2m of earnings the previous year. it claimed, adding that Infratil’s investments as a whole returned $356.3m compared with $315.9m the year before. Earnings were up at its three major investments, TrustPower, Infratil Energy Australia and Wellington Airport.
Mr Bogoievski is quoted as saying he did not rule out selling stakes in Manston and Glasgow Prestwick if buyers could be found adding:
“In the meantime you do what you can control and that’s the operating cost structures of those businesses.”
Infratil bought Kent International Airport after the previous owners, PlaneStation went bust in August 2005. Marko Bogoievski, Infratil’s chief executive, added:
“The short term market conditions in no way change the future potential of the airport as outlined in our development plans. Although the current economic downturn has affected KIA in the same way as it has affected other UK airports and business in general, we firmly believe that markets will recover and KIA will be ideally situated to provide an immediate solution to the south east’s predicted runway capacity shortfall. We are not actively seeking to sell KIA and remain committed to its long term development.”