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UK stakeholder quits Perth Airport

PERTH Airport operator Westralia Airports Corporation has brushed off an announcement by UK-based BAA Plc that it would sell its 15 per cent stake in the company, saying it would be ‘business as usual’ at the airport. BAA has also exited a 20 per cent stake in Australia Pacific Airports Corporation, the operator of Melbourne and Launceston Airports. BAA, formerly the British Airport Authority, was purchased in June this year by a consortium led by Spanish transport and infrastructure conglomerate Ferrovial, in partnership with Canadian and Singaporean investors. Perth Airport executive chair David Crawford said BAA’s decision was not a surprise. “Like any well managed company, we have contingency plans for such decisions. The shareholders agreement contains pre-emptive rights, thus the remaining shareholders will determine the future ownership structure of WAC,” he said. “I can assure you WAC will remain in good shape and will continue to look to the future, building on already successful achievements, with Perth Airport serving the interests of the Western Australian community and domestic and international travellers alike.” Westralia, a wholly owned subsidiary of Airstralia Develop-ment Group, has 75 per cent of its stock administered by trusts linked with Melbourne’s Hastings Fund Management Ltd, a local infra-structure and investment company.

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Revenue

10th↑Minderoo Group$753.0m
11th↓Barminco$691.0m
12th↑Perth Airport$541.5m
13th↑John Hughes Group$483.0m
14th↓DVG Automotive GroupNFP
113 private companies - large ranked by revenue most recent financial year

Total combined value of current WA projects

19th-Psaros22,300,000
20th-Aigle Royal GroupNFP
21st-Perth Airport18,100,000
22nd↑Parcel PropertyNFP
23rd↓Qube PropertyNFP
70 property - (built-form) developers ranked by total value of WA projects currently under construction ($)

Number of Employees

Private Companies - Large

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