“We have high-quality airports, exciting growth prospects, a strong management team and are well placed to further develop our existing businesses and consider new opportunities“
AUSTRALIA/INTERNATIONAL. On 30 September Macquarie Airports (MAp) shareholders voted in favour of internalising the management of the company.
The Moodie Report spoke to CEO Kerrie Mather this week to discover both the rationale behind the move and the repercussions of it.
Mather pointed out that MAp, listed on the Australian stock exchange since 2002, was established as an externally managed company.
It had no employees and was managed by Macquarie, which provided management services, including staff, in return for a fee.
The decision to internalise the MAp management means the company has now become independent of Macquarie.
It will be known as MAp from now on (visit www.mapairports.com.au for its new-look website).
Mather explained: “The key change is that MAp will now have its own employees rather than management of its airports being carried out through Macquarie.
“This means that all the current MAp management team within Macquarie transfer and become employees of MAp to specifically focus on the major ownership interests in Sydney, Copenhagen and Brussels airports, and the strategic interest in ASUR in Mexico (MAp announced the sale of its interest in Bristol Airport on 16 September).”
Mather remains as CEO and Martyn Booth as Head of Europe. They are supported by Airport Directors and their respective teams for each airport.
Doug Benham, as Head of Commercial for MAp, will continue to be responsible for retail and commercial matters and will be involved in progressing, in conjunction with airport management, the implementation of the agreed strategies and developments at the airports.
At Sydney Airport, for example, the ambitious expansion and redevelopment of the retail area for the international terminal (T1) is progressing well and will be completed in early 2010, Mather said.
“At Copenhagen Airport, following the completion of important developments over the last year or so, the immediate priority is to ensure that the shopping centre performs to its full potential,” she continued.
“At Brussels, new developments are now being planned for the landside departures area together with the Pier A and Pier B airside concourses.”
MAp sees the change as being entirely positive for its business, Kerrie Mather said.
“˜MAp’s management team remains extremely enthusiastic about the change,” she concluded.
“We have high-quality airports, exciting growth prospects, a strong management team and are well placed to further develop our existing businesses and consider new opportunities.”
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