Ryanair (FR, Dublin International) is considering taking part in the upcoming Initial Public Offering (IPO) for Spain's state-owned airport and air navigation provider (Aeropuertos Españoles y Navegación Aérea - AENA).
Madrid has set its sights on offloading a 49% stake in the firm which, analysts believe, is valued at over EUR16billion (USD21.6billion). Of the 49%, 28% will be sold on the Madrid bourse while the remaining 21% will be offered to long term investors.
"We think they should sell out 100 percent of AENA, but we are interested in the whole process," Ryanair marketing head Peter Bellew told Reuters newswire in Madrid.
Heavily indebted AENA manages all of Spain’s 46 airports, including Madrid Barajas and Barcelona El Prat, and last year partnered private equity firm, Ardian, in acquiring London Luton.
Ryanair and its relationship with two AENA-run airports - Girona and Reus - have come under the spotlight with the European Commission currently investigating whether marketing deals between airport authorities and the airline breach EU state-aid rules.
