Investor sought for new Kunming Airport
02 Sep 2008
Chinese airport operator, the Yunnan Airport Group, is reported to be on the look out for a global strategic investor to help it fund a new $2.7 billion airport in the provincial capital of Kunming.
The airport is planned as the fourth largest in mainland China in terms of cargo and passenger traffic, and has a planned completion date of 2010. The Yunnan Airport Group estimates that by 2020, cargo traffic would have ballooned to 1.3 million tonnes.
The Airport Authority of Hong Kong, the Macquarie Group, and the operators of Singapore's Changi Airport and that of Frankfurt Airport are reported to be interested in investing in the project. They would be allowed only a cash-investment against a minority stake.
As per China's aviation regulations, foreign investment in local airports is limited to an unspecified minority stake.
