Madeleine Wackernagel
British Airports Authority (BAA), the worlds largest private airport manager, is joining the bidding process for a strategic equity stake in the Airport Company of South Africa (Acsa).
BAA, itself a successful privatisation story, hopes to add significant value to the commendable efforts of Acsas management and staff, according to Richard Jeffrey, director for Europe and Africa.
There is enormous potential at South Africas major airports and our extensive experience in managing international airports, both large and small, can help to realise that potential for the benefit of the airports themselves, their customers and staff, and the local and national communities which the airports serve, he added.
Unusually among South Africas state-owned industries, Acsa is profitable. Results for the year to March 1997 showed an increase in
turnover from R455,1-million to R577,6-million and pre-tax income up from R223,3-million to R297,8-million. It also declared a maiden dividend of R36-million, paid to the Department of Transport.
Other potential bidders for the 20-30% stake include the Malaysian Airports Authority, Vienna Airport and Singapore Airport.
The government will still retain 51%, with the balance earmarked for black empowerment groups and staff.