Eurotunnel could join bid for London City airport, claims chief

Eurotunnel could join bid for London City airport, claims chief

Eurotunnel could take a stake in London City airport, the channel tunnel operators boss has revealed.

The company is planning to join a consortium bidding for the airport, which has been put up for sale this year.

Chief executive, Jacques Gounon, said: “We are in the process of joining up with one of the consortiums.

"We can help to convince [the government] that the reasonable and cautious extension of London City airport is good for the City, good for Canary Wharf and is good for London,” he said.

One of the bids for the £2 billion Dockland airport comes from Canadian investment giant, Ontario Teachers’ Pension Plan, which has partnered with the sovereign wealth fund of Kuwait and Hermes.

Another is from Allianz and Borealis Infrastructure, the Canadian pension fund, which already owns the line from the Channel tunnel to London St Pancras.

Canada Pension Plan Investment Board and PSP, another Canadian pension fund have also submitted a bid, while Australia’s Macquarie is also thought to be considering an offer, according to the FT.

The interest from Eurotunnel is part of the company’s wider strategy to move beyond operating the concession on the Channel tunnel - which it has until 2086 - and run a greater range of cross-border infrastructure projects.

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