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