Tuesday, April 21, 2009

Fly Me to the Moon

YVR Airport Services Ltd. is a local success story.

At last count, 18 airports in seven countries under its management.

But the tale of its latest setback is an indicator of just how tight money is world-wide, even for what looks like sure-fire investments.

A landmark $2.5-billion (U.S.) deal to privatize Chicago's Midway Airport has collapsed after a consortium of Citigroup Inc., C Manulife Financial Corp.'s MFC John Hancock arm and Vancouver's YVR Airport Services Ltd. couldn't find investors to fund the acquisition.

Read the whole story here.

1 comment:

Anonymous said...

Not surprising that, the airport business is going through a major downsizing. Investing in an airport today is like investing in the Titanic.