ABERTIS, the Spanish-based majority partner that manages the Sangster International Airport (SIA) in Montego Bay, indicated on Tuesday that it is now 'actively' searching for a buyer.
The statement puts more urgency on the sale of the assets which was initially announced last year.
"Lastly, regarding the other assets that to date have not been disposed of (primarily, MBJ Airports of the share capital of which is held by Abertis Airports), Abertis is continuing to work actively to complete its divestment in the airport business," stated the annual report released March 24.
Abertis operates the airport through MBJ Airports which controls 75 per cent and the remainder is held by a Canadian-based entity.
The disposal of the assets is not expected to have a significant impact on Abertis financials, stated the report. The local airport, the busiest in the island, earned Abertis some 9.5 million euros in profit for its December year end. It also has 56.7 million euros as reserves after deducting interim dividends, according to the financials.
It remains one of the final airports set for divestment, as Abertis aims to focus more on its core toll road activity.
Last December an Abertis subsidiary completed the sale of its entire 33.33 per cent interest in Aeropuertos Mexicanos del Pacialfico (AMP).
SIA was divested over a decade ago by the Government. Abertis was not part of the original team that won the 2003 concession. It entered in 2007 after acquiring the interests of three of the four partners that had secured the lease agreement, with only Canadian outfit Vancouver Airport Services remaining as an original investor.
Abertis Airports once managed 30 airports in nine countries, handling roughly 87 million in passenger traffic each year. It owns 74.5 per cent of MBJ Airports Ltd, under a 35-year concession agreement for the development, maintenance and operation of SIA.
The concession would naturally end in "April 2033", according to Abertis financials.
The Government expects to divest Norman Manley International Airport, the island's Kingston-based publicly owned airport, in short order.
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