 |
Changi Airports International provides a wide range of aviation-related services |
CHINA/SINGAPORE. Changi Airports International has signed a binding agreement to acquire 29% of China’s Nanjing Lukou International Airport in Jiangsu Province for around CNY900 million (US$122 million), according to several reports in China and Singapore today. The deal was first announced back in January.
“We are taking a stake in one of China’s fastest-growing secondary airports which is just hours away from the overcrowded Shanghai airport,” Changi Airports CEO Chow Kok Fong told Business Times.
The newspaper said that a joint venture company would be created by the end of the first quarter of 2008. Changi Airports International (formerly known as Changi Airport Managers and Partners) is a wholly owned subsidiary of the Civil Aviation Authority of Singapore (CAAS) – owner-operator of Singapore Changi Airport.
Changi Airports International was formed to pursue investment in foreign airports and offer consultancy services in the entire spectrum of civil aviation.
Its services include investment in foreign airports, providing consultancy services in airport development and management, and also training services to overseas airports in areas such as airport commercial management, operational efficiency and customer service.
In August 2006 it signed an agreement to manage the new Terminal One at Moscow Sheremetyevo Airport under a joint venture with the Sheremetyevo Airport Joint Stock Company. And in December 2006 it entered into a similar agreement at Abu Dhabi International Airport.
In an interview with The Moodie Report in May, Chow Kok Fong said the Changi Airport concessions model would be the retail model favoured by the group in future overseas investments.
MORE STORIES ON CHANGI AIRPORTS INTERNATIONAL
Changi Airport operator CAAS to be corporatised – 31/08/07
Changi Airports International strikes major alliance with Shenzhen Airport Group – 18/07/07
