BRISTOL - 4

[MerchantVenturer]

It is reported that Macquarie Airports (MAp) posted a 'solid set of passenger traffic results' across its core portfolio in July, despite a weakening of short-haul European traffic, which hit Copenhagen Airport in particular.

MAp Chief Executive Officer Kerrie Mather said: “The value of the traffic diversity amongst MAp’s airports is being demonstrated. While there is a general softening in the European short haul market, the combination of Sydney’s continued growth, Brussels’ increased long haul offering and low cost international traffic at Bristol is ensuring that MAp’s core portfolio continues to deliver solid growth."

I haven't read the newspaper report to which you refer. If it turns out to be true maybe the growth is not as solid as MAp would wish.

Addendum

I have had a look through the financial press and it seems that MAp posted a first-half loss this year and announced it would reduce its stakes in two airports to cut debt. The announcement apparently sent its share price up nearly 10 percent.

The airports concerned are Copenhagen and Brussels and MAp is to sell around a quarter of its stake in each to another Macquarie fund.

I can find no mention that Bristol is involved in a sale or reduced stake.

In fact, although BRS is owned by Macquarie the set-up is slightly complicated and I can do no better than reproduce the ownership details as set out in the airport's own website.

Bristol International Airport is 100% owned by South West Airports Limited (SWAL), a joint venture holding company owned by Bristol Airport (Bermuda) Limited (BABL) and Macquarie European Infrastructure Fund (MEIF). Both BABL and MEIF are managed by Macquarie Capital Funds (Europe) Limited (MCFEL), a subsidiary of Macquarie Group Limited.