Airport News

The owners of Bristol Airport may have to stump up some cash to help with the refinancing of GBP£515 million (USD$814 million) of debt which  falls due next year, banking sources said on Friday.

The western England airport, owned 50 percent by Macquarie's European Infrastructure Fund 1 and 49 percent by the Ontario Teachers Pension Plan (OTPP), with Sydney Airport holding the remaining 1 percent, has started talks with lenders but the level of debt relative to earnings makes it too risky for banks to agree a straightforward loan extension or refinancing, the sources said.

Credit Agricole, Societe Generale, Commonwealth Bank of Australia and HSH Nordbank were among the banks that refinanced Bristol Airport's debt in 2005. The loans mature in October 2013.

Bristol Airport and its owners have been working with debt advisory firm Rothschild to review the company's refinancing or debt restructuring plans, the sources said.

Bristol Airport and Macquarie declined to comment.