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NEWS Last modified on September 17, 2014

MEIF sells 50% share in Bristol Airport to teachers'

The Macquarie European Infrastructure Fund (MEIF) has sold its 50% shareholding in Bristol Airport to its co-shareholder, Ontario Teachers’ Pension Plan.

Funds managed by Macquarie Infrastructure and Real Assets (MIRA or Macquarie) have owned Bristol Airport since 2001, during which time the airport’s route network has grown significantly to reach 107 destinations served by 13 airlines.

As a result, passenger numbers have grown on average by 7% per annum to exceed six million in 2013, making Bristol Airport one of the fastest growing gateways in the UK and the main gateway to the South-West of England.

Since acquiring an additional shareholding in Bristol Airport in 2009, OTPP has worked in concert with MEIF to ensure continued development and strong passenger growth at the Airport.

Robert Sinclair, CEO of Bristol Airport, says: “Macquarie’s long association with Bristol Airport was a period of unparalleled passenger growth and development which saw it become one of UK’s leading regional airports.

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“Macquarie and Teachers’ have been instrumental in supporting the expansion of the airport’s route network and significantly enhanced facilities for passengers.  We look forward to working with Teachers’ to continue investing in the airport for the benefit of the region we serve.”

The transaction at the ninth largest airport in the UK, is due to close by the end of September 2014.

Andrew Claerhout, senior vice president of Teachers’ Infrastructure Group, explains: “Teachers’ looks forward to continuing our relationships with all stakeholders at Bristol Airport and supporting its further development.

“We will work to build on the success we have achieved in our partnership with MEIF during the past eight years.”

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