ferrovial heathrow

Heathrow Ferrovial 777x400 1

Heathrow shareholders exercise right of first refusal and complicate sale of Ferrovial’s 25% stake in Heathrow

Bankinter| Some Heathrow shareholders have exercised their right of first refusal. The sale of the 25% stake held by Ferrovial has run into difficulties. Some Heathrow shareholders have exercised their right of first refusal on 35% of the capital. They are Caisse de Dépôt et Placement du Québec (12.62%), the Singapore sovereign wealth fund GIC (11.2%) and Australian Retirement Trust (11.18%). Although the agreement to sell the 25% stake held…


Ferrovial sells its 25% stake in Heathrow Airport for £2.368 billion

Ferrovial (FER) has announced in a Significant Event to the CNMV (National Securities Market Commission) that it has reached an agreement to sell its entire stake (approximately 25%) in FGP Topco, parent company of Heathrow Airport Holdings Ltd. for £2,368 million (approximately EUR 2,735 million). The current sterling value of FER’s stake in Heathrow Airport Holdings Ltd, according to FER’s consolidated accounts, is €0. The deal has been reached by…

Heathrow Ferrovial

Ferrovial studies getting rid of Heathrow: book value assuming a valuation at RAB would be €840 M

Intermoney | Ferrovial (Hold, Target Price 24 euros/share) would be considering selling its 25% stake in Heathrow, where it has been present since 2006, according to various media outlets on Tuesday. These same sources say that one of the interested parties in this stake would be the fund Ardian, who would join forces with the Saudi firm PIF. Currently, in addition to Ferrovial, Heathrow’s shareholders are QIA (20%), the Canadian…

Heathrow Ferrovial

Heathrow hikes passenger estimates for 2022: will recover 67% of pre-Covid levels this year

Bankinter | The UK’s Heathrow airport has improved its passengers’ estimate for 2022 to 54,4 million, which would mean a recovery of 67% of 2019 levels. It’s an improvement of 3% on the 52,8 million forecast in April. The company foresees revenues doubling to 2.593 billion pounds and adjusted EBITDA growing 257% to 1.370 billion pounds. That said, it has warned that uncertainty remains high and that there are significant…

Heathrow Ferrovial

Overall solid results support our valuation of >2 M€ of Heathrow in Ferrovial’s capital

Morgan Stanley | Heathrow (C.8% of the value of Ferrovial (FER)) beat expectations in terms of revenues and costs in Q1’22. In light of an acceleration in the recovery during March/Easter, and a good outlook for airline capacity this summer, management has upgraded its previously conservative guidance for FY’22 by 16% (45.5 million people → 52.8m). It maintains its traditional cautious view with regard to the outlook for Autumn/Winter. The establishment…

heathrow arrivals

Ferrovial Negotiates An Urgent Plan With The UK To Save Heathrow

Heathrow Airport Limited is controlled by a consortium led by Ferrovial with a 25% stake, Qatar Investment (20% of the capital), Caisse du Quebec (12.62%) and Singapore’s GIC fund (11.2%). The partners have already activated new urgent lines of financing for a total of 850 million euros. Heathrow wants to increase prices, and the regulatory body (CAA) is receptive to the request. But it wants the dividend cut to shareholders to be extended.


Ferrovial: Heathrow’s Third Runway Ruled Legal

The British Supreme Court has overturned a court ruling that forced to stop the construction of a third runway at London’s Heathrow airport, Britain’s biggest airport, which is currently controlled by the Spanish group Ferrovial. The judicial decision considers that the work is not illegal and, from now on, Ferrovial may request permission to undertake the project. In February, the London Court of Appeal ruled in favor of environmental activists against the expansion of the airport.


Ferrovial’s Motorway division accounts for 72% of O.P.

Banc Sabadell | Despite Ferrovial´s excellent performance this year (+26% in absolute terms and +17% vs IBEX) our Objective Price still suggests potential (c.+10%) and the share remains one of our main bets in the sector.