50 SKY SHADES - World aviation news

Five bidders eye £2bn London City Airport deal

Download: Printable PDF Date: 15 Feb 2016 04:50 (UTC) category:
Five bidders eye £2bn London City Airport deal - Airports / Routes publisher
Tatjana Obrazcova
Country: United Kingdom
Source: The Telegraph

An infrastructure vehicle backed by Asia's richest man is among five short-listed bidders expected to make offers for London City Airport this week.

Asia’s richest man is among five suitors that are this week expected to make final bids for London City Airport to clinch a deal that could value the business at about £2bn.

Cheung Kong Infrastructure Holdings (CKI), the firm controlled by Hong Kong billionaire Li Ka-Shing, is understood to be among the groups still in the running to buy City from private equity giant Global Infrastructure Partners (GIP). Credit Suisse, the investment bank hired to manage the sale of the airport, and GIP have drawn up a short-list of five bidding groups, with a deadline for offers set for the end of this week.

A large consortium made up of sovereign wealth fund the Kuwait Investment Authority, Canadian funds Borealis Infrastructure, AIMCo and Ontario Teachers’ Pension Plan, and British investor Hermes, is also on the short-list. One of the other three bidders is thought to be Chinese airlines owner HNA.

Suitors have been circling City ever since GIP put the airport up for sale last August. The bidding field was narrowed after interested parties submitted indicative offers for City last November.

GIP bought the airport - which is popular with financial workers because it is so close to Canary Wharf and the Square Mile – from Irish entrepreneur Dermot Desmond for about £750m ten years ago.

British Airways passenger jet flys over other British Airways passenger jets parked at London's Heathrow Airport on the second day of a three day strike by British Airways cabin crews

BA is concerned City's new owner will lift airport charges  Photo: AFP

The mooted £2bn that GIP hopes to fetch for the business has sparked concern among City’s two biggest airlines, British Airways and CityJet, that airport charges will be hiked by the new owner. GIP declined to comment and CKI could not be reached.


RECARO Aircraft Seating R2 and R5 selected for Alaska Airlines cabin retrofit

RECARO Aircraft Seating was selected by Alaska Airlines to retrofit their Boeing 737-800 and MAX 8 aircraft with the award-winning R2 economy class seat and R5 business class seat. This will include 7...

From ground to sky: growing number of airBaltic employees transforming into pilots

airBaltic announced a continuously increasing number of employees from various departments have decided to change career paths and pursue their dreams of becoming pilots by enrolling in the ...

Savback bring Konner and Koenigsegg together to celebrate milestones

Savback Helicopters announced that Konner K1-S19 was the inaugural helicopter to land at the at the all-new helipad at the Koenigsegg supercar factory in Ängelholm, Sweden. The arrival marking a...

Emirates SkyCargo orders 5 Boeing 777Fs, for immediate delivery in FY 25/26

Emirates SkyCargo announced a firm order for an additional five Boeing 777 freighters, with immediate delivery between 2025 and 2026. The US$ 1billion order will take the airline’s total or...

Android Apps development in Riga, Latvia