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October 16, 2009

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HK Airport Authority Eyes Stake In Partner

THE Hong Kong airport authority is keen to buy a stake in its Shanghai counterpart but the two sides haven't held talks about the issue, said a senior official of the Shanghai Airport Authority yesterday.

"The two sides may look at a stake tie-up to enhance their cooperation, but it depends on the process of the Shanghai Airport's full listing of the group," said Li Derun, executive vice president of Shanghai Airport.

The operator of Shanghai's two airports has been considering injecting its Hongqiao Airport assets into its listed arm.

The two airport authorities signed a pact on Monday for a 100 million yuan (US$14.7 million) joint venture to upgrade the management of Hongqiao Airport. The Shanghai partner owns 51 percent of the joint venture while its Hong Kong counterpart holds the remainder.


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