CAPA · 01:15
Since the Australian airport leases were finalised in the late 1990s, affecting most of the airports apart from Sydney Kingsford Smith which followed later, there has been a regular exchange of equity, often involving superannuation (pension) funds, which have considerable influence over those airports. Some of them have revisited the value of their holdings in the sector recently and have taken appropriate action, including on-sales of equity to other superannuation funds. And that might be about to happen again as two minority shareholders at Perth Airport are reported to be considering selling their small stake in it to a pension fund that has not so far been a big player in the airports sector either directly or indirectly. What happens at Perth will be of interest to many other investors as it is an airport that punches above its weight although a part of that is down to its unique offer of non-stop flights to Europe which will no longer be unique in a year or two's time.