Heathrow’s Spanish owner mulls selling stake as buyers circle
Heathrow’s Spanish owner is considering dropping its long-held stake in the airport, according to a report, as interested buyers wait in the wings.
A top executive at the infrastructure giant Ferrovial, which owns a 25 per cent holding in Heathrow, has said it would consider the merits should bidders “keep knocking on our door,” The Sunday Times reported.
Chief financial officer Ernesto Lopez Mozo told the paper: “We are open to different alternatives [with Heathrow], as with any other [asset] in the portfolio. So if an opportunity keeps knocking on our door, we will look at it on financial merits.”
The comments come amid City gossip that buyers have been informally approached about acquiring a 25 per cent stake in the west-London hub.
There has been renewed speculation surrounding the future of Heathrow’s long-delayed third runway proposal in recent weeks following the arrival of new chief Thomas Woldbye.
Covid-19 left the project’s future in doubt but it has a parliamentary seal of approval and is currently under review.
Heathrow, whose consortium of investors includes Ferrovial, the Qatar Investment Authority and the Chinese Investment Corporation, has remained in the red in recent years amid a significant £15bn debt pile. Losses narrowed significantly to £19m, down from £442m, in its most recent set of results and the airport now stands on the brink of profitability.
Ferrovial were approached for comment.