Business

Heathrow owner halts future UK investment over Brexit

Rafael del Pino, Chairman Ferrovial Image copyright Ferrovial

The Spanish owner of Heathrow airport has said that uncertainty over the UK's exit from the EU has put a halt on future UK investment deals.

Although investment in Heathrow is not in doubt, Ferrovial chairman Rafael del Pino said he saw "no opportunities" in the UK, Spain's ABC newspaper reported.

Brexit may even have "positive side effects", including a more favourable view of Heathrow expansion, he added.

The comments referred to future merger and acquisition deals, Ferrovial said.

A public consultation on a third runway at Heathrow ends on 25 May.

Later this year or early next year, MPs are expected to be asked to vote on the runway. It would end decades of debate over how to expand airport capacity in south-eastern England.

Ferrovial also owns stakes in Glasgow, Aberdeen and Southampton airports.

Those businesses help make the UK one of Ferrovial's most important markets, with about 30% of its revenue generated in the country.

However, Mr del Pino is taking a "prudent" attitude to the UK.

"Nobody, not even the UK, knows how the process and consequences will be carried out," he said.

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