Infratil disposes of airport assets but the remaining facilities may have a brighter future

Infratil, the New Zealand-based investment fund of the company HRL Morrison & Co, and an active investor in the transport, energy and utilities sectors, has published its financial report for the six months ending 30-Sep-2009 (1H09). Wellington Airport reported record earnings while Infratil sold its stake in what was supposed to be Auckland’s second airport. Kent International Airport acquitted itself well. The future at Prestwick Airport is dependent on Ryanair’s outlook there while time simply ran out on Infratil’s involvement in Germany, despite much-improved passenger numbers at Luebeck. [1993 words]

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This report contains the following subheadings:

• New Zealand – credible result for Wellington Airport, investment at Auckland disposed of
• Aggressive control of costs in Europe
• Kent hopes to benefit from high-speed rail
• Luebeck is put down despite a last minute rally
• ‘No plans’ to sell other airports
• Breaking News

This report contains the following charts and tables:

• Table: Infratil’s financial highlights for the six months ended 30-Sep-2009 (all financial figures USD millions)
• Chart: Selected airports daily share price movements (% change): 24-Nov-09