Airport News
Italian motorway operator Atlantia is still open to selling a minority stake in its airport business AdR, its CEO said, adding the group was keen to swap it with a stake in another airport.
A sale of a minority stake in Atlantia's airport business will, however, take place only at an "adequate" price, the parent's chief executive Giovanni Castellucci said on Friday.
Atlantia bought AdR, which operates Italy's biggest airport Fiumicino and smaller Ciampino in Rome, in March 2013 and has been consolidating it in the group's results since December 1, 2013.
The group, which controls toll road concession group Autostrade per l'Italia, owns around 96 percent of AdR.
Last year, the airport business contributed the bulk of a 23 percent rise in EBITDA earnings to EUR€3.17 billion (USD$3.44 billion), Atlantia said in a statement.
"We would like to crystallise the value (of AdR)… and also we are very keen in getting shares in a leading airport to grow, but it is not easy," Castellucci said.
In January, Atlantia's chief executive said the company was looking at selling up to 30 percent of AdR by the end of June to raise resources for global expansion.
