Infratil Airports Europe head Steve Fitzgerald says it will concentrate on settling in new acquisitions. Picture / Paul Estcourt
A new round of airport privatisations in France could be the next step for Infratil's European Airports operation.
The investment company is keeping a close eye on developments across the Continent as it seeks to bed down recent purchases of an airport in Germany at Lubeck and another in Kent,
southeast England.
Kent International Airport was bought from administrators for about 18 million ($46.4 million) in late August.
Lubeck, near Hamburg, is another small regional airport.
Infratil Airports Europe chief executive Steve Fitzgerald has been in New Zealand this week outlining the company's plans for growth and expansion.
He said a new wave of airport privatisations in France could provide opportunities for Infratil in coming years, although the focus for the next few months will be on developing and building existing properties.
When the Kent airport was bought from the receiver, it had no customers but with a 2752m runway - capable of taking the biggest passenger and cargo planes - it had huge potential for growth.
Infratil's investment in Glasgow's Prestwick Airport has not been without problems.
Freight volumes have been falling and a profit downgrade was issued last year.
However, passengers numbers in the year to September 30 were up 15 per cent.
Now that Kent International has been bought, and plans at Lubeck are proceeding, Infratil is marketing three airports to clients, rather than just Prestwick.
Its management team at Glasgow will provide much of the management support for the other airports.
Fitzgerald pointed out that the low-cost airline sector, which had a 43 per cent market share in Britain, had just 25 per cent in the rest of Europe.
"We obviously keep a watchlist on airports," he said.
"There's a number of things on that watchlist that I won't specify, but we're going to certainly keep our watchlist and keep talking to people."
The focus for the next few months, though, would be "settling those airports in" and the development of Infratil's existing business.
