Sharechat Logo

Infratil's role in Airways Corp bid revealed

By Ray Lilley

Friday 19th May 2000

Text too small?
Utilities investor Infratil has emerged as the capital provider behind Airways Corporation's bid to take a stake in the UK's national airways traffic control system, along with US giant Lockheed Martin, if it is put on the market by the UK Labour government.

Infratil is on the prowl for fresh investments with a $100 million cashbox and its first investment may be the $30 million deal to buy the system, known as Nats.

Infratil chairman Kevin O'Connor said the company had been tracking Airways' intellectual capital since the prospect of its privatisation first arose in 1995.

Airways would provide consulting expertise and Infratil capital to the venture. Opportunities could also arise in other parts of the world "so we have been working with them," Mr O'Connor said.

There were no firm commitments to any investment as "it is early days. We have very strict investment criteria and any investment would only be taken up if it complied with those criteria."

He said the issue of Airways' privatisation was off the government agenda.

Infratil confirmed it would have $100 million to invest as it sold down 14% of its portfolio this year, saying it was a great time to buy.

The company's net profit of $34.2 million was up 28.5% on a year earlier ($26.6 million).

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

RBNZ review seeks wider input on quantitative easing, bank supervision
NZ dollar rises on strong domestic exports, Trump comments on Powell
Goldsmith replaces Adams as Nat's shadow finance minister
Gold Report 25th June 2019
OECD joins KiwiBuild critics as 'reset' looms
Global trade crisis 'bad news' for open economies like NZ - OECD
Milk testing firm GEA Milfos to pay $925k for fixing prices
Dairy sales push May exports to record high
Pay rises lift employment confidence; outlook weak
Sky TV drops 'puck' deployment

IRG See IRG research reports