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A Continental airlines flight from New York, USA, lands at Bristol International Airport Monday Jan. 8, 2007.Anthony Devlin/The Associated Press

When it comes to airports, Ontario Teachers' Pension Plan leaves nothing up in the air.

The Canadian pension fund said Monday that it would be interested in acquiring the half of Bristol International Airport, one of the 10 largest airports in the U.K., that it doesn't own. And it might just get the chance – its co-owner, Australia's Macquarie Group, appears to be looking for a buyer.

Teachers has been attracted to airports for their potential to generate steady, regulated revenue over the long term, and has made other airport investments in Europe and the U.K. Airports collect fees for each plane that lands, regardless of how many seats an airline has sold, and often benefit from being the sole operator in their region.

But the runways in Bristol have added appeal for Teachers.

"We especially like Bristol because we have experience and knowledge of the asset," said Deborah Allan, spokesperson for Teachers. "We also like doing business in the U.K., where we are well-established and know and understand the infrastructure."

The pension fund wouldn't comment on what it would cost to buy the other 50 per cent of the asset. When Teachers last increased its stake in Bristol's airport in 2009, it bought a 35.5-per-cent stake for $225-million from Australia's Macquarie Airports.

At the end of 2013, Teachers had $11.7-billion invested in infrastructure, mostly outside of North America. Along with Bristol, Teachers holds private investments of more than $100-million in three other airports—all of them linked to Macquarie.

Teachers invested $552-million in Birmingham International Airport in 2007, part of a joint venture with Victorian Funds Management Corp. where the two parties bought 48.3 per cent of the asset from Macquarie Airports Group and another partner.

In 2011, Teachers took on stakes in airports in Brussels and Copenhagen, as part of another deal with Macquarie Airports.In exchange for the part-ownership of the airports, Teachers traded its 11 per cent stake in the Sydney airport to Macquarie and also paid $791-million (Australian) in cash.