Abu Dhabi royal family linked to airport bid

THE ruling family of Abu Dhabi have been linked with the acquisition of a stake of up to 50% in Manchester Airports Group.

A report in yesterday’s Sunday Times has said that the ruling family of the UAE’s largest emirate – and owners of Manchester City Football Club – are one of a number of bidders to have made the shortlist as potential investors in Manchester Airports Group.

Other reported bidders include Asia’s richest man, Li Ka-Shing, who owns Hong Kong-based conglomerate Hutchinson Whampoa, and Australia-based Industry Funds Management.

The UAE’s ruling family, the Al Nayhans, have already made a series of investments in Greater Manchester, not least in the football club and the proposed £100m Etihad Campus scheme opposite Manchester City’s stadium.

Its bid will be made through the Abu Dhabi Investment Authority, with 3i Infrastructure as a partner.

The Etihad airline business owned by the family has its European back office functions and a major call centre based at the airport, and runs three flights daily between Manchester and Abu Dhabi.

Manchester Airport Group is currently owned by Greater Manchester’s 10 local authorities, but is looking for potential sources of new equity in order to facilitate an ambitious bid for London’s Stansted airport, which is expected to be put up for sale by current owner BAA Group later this year.

In February, Manchester Airports Group said that no decision on a sale would be agreed until “a potential investment partner has been identified and detailed arrangements progressed”.

“We anticipate it will take a few months to reach this point,” it added.