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New Canadian aviation company buys into Italian airport

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Centerline Airport Partners bought 51 per cent of Parma International Airport and aims to boost passenger traffic over the next five years

A new Canadian aviation company, Centerline Airport Partners, has made its first purchase, in northern Italy, and plans to invest in other underused airports around the world.

The five-year target, he said, is to boost passenger traffic to 700,000 passengers a year from the current 125,000, a tiny amount compared with Italy’s bigger airport . Ryanair, Europe’s biggest budget airline, is Parma airport’s main client, with two to three flights a day. Centerline is raising US$50-million to US$100-million in its first financing round to build and buy airports.

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New Canadian aviation company buys an Italian airport in first move of overseas expansionCenterline Airport Partners bought 51 per cent of Parma International Airport and aims to boost passenger traffic over the next five years
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