February 15, 2008 (LPAC)--Under pressure to privatize Japan's airports and to encourage foreign investment to Japan, the Japanese transport ministry is planning to hand over part ownership of the Narita Airport of Tokyo. At the same time, the head of the International Air Transport Association (IATA) urged Japan on Feb. 14 to avoid repeating the same mistakes as in past airport privatizations such as the "disaster" at London's Heathrow. London's Heathrow airport is now maintained by Spain's Group Ferrovial, the mother company of Cintra, a subsidiary, that owns Chicago Sky Way, among other US infrastructure projects. "We have seen too many privatizations fail because governments sold the "crown jewels" without appropriate guidance to the new owners," IATA director general Giovanni Bisignani said during a speech in Tokyo. "Look around Heathrow. Failed regulation allowed for a 42 percent profit margin. The new Spanish owner is happy, but Londoners suffer with terminal facilities politely described as a national embarrassment," he said.

Heathrow, along with Gatwick and Stansted airports, were put under control of Group Ferrovial by the British government under Tony Blair in 2006.

Japan's transport ministry has drawn up the bill to limit foreign ownership of airports after it emerged that Australia's Macquarie Airports Management Ltd. now owns nearly 20 percent of the operator of buildings at Tokyo's Haneda Airport.