US pension fund not part of airport bid

A US teachers pension fund is not involved in the bid by JP Morgan Asset Management for Edinburgh Airport, sources have told The Scotsman.

Reports wrongly linked JP Morgan with TIAA-Cref, but it is understood the firm is tying up with another non-UK pension fund and the operator of Incheon airport in Seoul, South Korea. It is expected to lodge its offer early next week and will push the Incheon link as an opportunity to develop long-haul traffic to Asia.

Bidders indicated before Easter that offers would be pushed back a few days, though not because of JP Morgan requesting more time. The other remaining bidder is Global Infrastructure Partners.

TERRY MURDEN