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NEWS Last modified on November 16, 2015

New owners named for key Japanese airports

Sendai in northern Japan and Osaka’s Kansai and Itami airports are all set to have new operators within the next few months as part of the government’s plans to reduce spending on key infrastructure to reduce the national debt.

A private consortium spearheaded by rail operator, Tokyu, is set to rubber stamp a 30-year concession to manage Sendai by the end of 2015.

While an ORIX-Vinci Airports spearheaded consortium has been selected as the preferred ‘negotiations rights holder’ for Osaka’s gateways and is expected to take over the running of the city’s Kansai and Itami airports for 44 years from April 1, 2016.

If the $18 billion deal goes ahead ORIX Corporation and Vinci Airports will each have a 40% stake in a new, yet-to-be established concessionaire company with the remaining 20% of the shares owned by local firms.

Orix Corporation is one of Japan’s most acquisitive financial firms, while the deal will cement Vinci Airport’s status as one of the world’s leading airport operators.

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