‘Unsolicited investor interest’ prompts Cairns Airport sale question
North Queensland Airports have appointed advisers to manage a possible sale of Cairns Airport following “unsolicited inbound investor interest”.
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Airlines and airport owners from Europe and Asia are rumoured to be among the investors interested in the sale of Cairns Airport.
Earlier in 2024, the North Queensland Airports Group, which owns Cairns Airport, Mackay Airport and Mackay Airport Hotel, appointed advisers to “explore all options” following unsolicited buyer interest in the airport.
Selling the airport is one of those options.
A North Queensland Airports spokesman said the interest in a sale was underpinned by the resilience of the business, opportunity for growth and location.
“NQA’s shareholders have appointed Macquarie Capital as an adviser to explore all value-enhancing options, including a possible sale, following unsolicited inbound investor interest,” said the spokesman.
“The interest in NQA underscores the strong market position of the business and our resilience and recovery post-pandemic.
“It also reflects our unique northern location, exposure to tourism growth tailwinds and the significant expansion opportunities underway at our facilities.”
Operations will continue as usual with any sale process expected to occur in the background in 2025.
“Business continues as usual for the team at NQA, which operates both Cairns and Mackay airports.
Cairns Airports latest passenger statistics to the end of November 2024 show rolling 12-month growth of 4.1 per cent in all passengers from 4.55 million to November 2023, up to 4.737 million in the 12 months to the end of November 2024.
International passengers are the fastest growing segment.
“Our focus remains on delivering excellent service and performance for our communities, customers, and stakeholders.”
The North Queensland Airports Group is consortia of shareholders which includes IIF Cairns Mackay Investment Ltd (IIF) managed by JP Morgan Asset Management, TIF Airports Pty Ltd as trustee of the TIF Airports Trust (TIF) managed by Gardior Pty Ltd, and Perron Airports Holdings Pty Ltd (Perron).
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Originally published as ‘Unsolicited investor interest’ prompts Cairns Airport sale question
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