Luton airport owner poised for €8.7bn float

Luton airport owner poised for €8.7bn float

The Spanish majority owner of Luton airport is to float on the Madrid stock exchange in the country’s second-largest flotation.

Aena, which also operates Madrid and Barcelona airports, is to be valued at €8.7 billion when trading starts in its shares today, the Times reported.

The Spanish government is selling 49% of its stake in Aena, which has holdings in as many as 46 airports around the world.

Shares are due to make their debut at €58, about 40% higher than the original indicative price for the initial public offering

Aena increased its stake in Luton airport last year and is committed to a £100 million investment plan to take capacity from 10.5 million to 18 million passengers by 2026 - about the same size as Stansted is now.

The group reported sales of €2.39 billion in the first nine months of last year, up 6.4% over the same period in 2013.

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