Airport operator TBI denies sale

TBI, which owns Belfast International airport, has denied being in discussions about a sale of the company with Germany's building giant Hochtief.

Yesterday TBI shares rose 15% yesterday, valuing the company at £397m (€566m), on speculation that Hochtief was considering bidding for TBI.

In addition to Belfast International airport, TBI operates Luton airport, where half its passengers come from, and also airports at Bristol and Cardiff.

Earlier this month, TBI announced a halving of interim pre-tax profits from £15m (€21.4m) to £7.2m (€10.3m).