Key Facts
- Balfour Beatty companies involved:
Balfour Beatty Capital,
Balfour Beatty Management
and Balfour Beatty
Civil Engineering
- In January 2007, Regional and City Airports (RCA) completed the
acquisition of Exeter and Devon International Airport Ltd, which
owns Exeter International Airport, for £60
million
- Balfour Beatty Management developed the business model and
capital expenditure plans that enabled RCA to successfully complete
the acquisition
- RCA is Balfour Beatty’s specialist airport investment and
development group
- Balfour Beatty has a shareholding of 60% in RCA, with
Galaxy
holding the remaining 40%
- The airport is one of the fastest-growing regional airports in
the UK, now handling over 1 million passengers per year and serving
17 domestic and European destinations
- It is anticipated that a new departures building will be
constructed by 2010
- The initial development phase will also include improvements to
the airport’s surface access, stand and apron enhancements
and an increase in car parking capacity
- In the longer term, further terminal and ancillary facilities
expansion is envisaged, to be carried out over three phases
- Exeter Airport has significant opportunities to increase both
its share of the regional market and the use of the airport by the
population in the surrounding area
- In 2005, the airport’s growth of 36% over the previous
year surpassed all other UK airports
- The acquisition is financed through £31 million of
equity, with Balfour Beatty as the lead investor
- London City Airport, through a technical services agreement,
will be Balfour Beatty’s operational partner at the
airport
- Balfour Beatty has a successful track record in airport
infrastructure development
- Its professional and technical services division has played a
key role in the development programmes at Heathrow, Gatwick and the
BAA Scottish Airports
- Its construction and services subsidiaries have undertaken
major airport projects at Heathrow, Gatwick, Stansted, Glasgow,
Edinburgh, Hong Kong, Dubai and Miami
