Mon, 03 Feb 2025 | BUSINESS SALE
AviAlliance, the private airport investor and operator has bought AGS Airports, the operator of Aberdeen, Glasgow and Southampton airports from Ferrovial and Macquarie for £1.53 billion.
AviAlliance is a wholly-owned subsidiary of PSP Investments, one of Canada’s largest pension investors, which is a long-standing investor in UK infrastructure with majority stakes in the port operator Forth Ports and Angel Trains.
Following the acquisition, AGS Airports will become part of AviAlliance - joining the company’s global airport network, which also includes stakes in Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico) airports.
AviAlliance has also appointed Kam Jandu as chief executive of AGS Airports with immediate effect, bringing three decades of experience in senior roles in the aviation and travel industries, having most recently served as CEO of Budapest Airport. He succeeds Andy Cliffe.
Gerhard Schroeder, managing director of AviAlliance, said: "Aberdeen, Glasgow and Southampton airports are excellent assets with strong growth potential that will benefit significantly from the forward-thinking exchange of expertise in growing connectivity, expanding passenger numbers and delivering superior passenger experience from across our world-class airport portfolio."
Richard Chang, managing director and head of Europe and Asia-Pacific, infrastructure investments at PSP Investments, said: "We believe that the operational expertise and track record of AviAlliance will deliver tangible benefit for AGS Airports and the communities it serves in Glasgow, Aberdeen, and Southampton."
Jandu added: "Aberdeen, Glasgow and Southampton airports offer unique propositions and catchment areas which present growth opportunities for airlines and other business partners alike. Working with the great people we have across the group and airports we aim to further improve their economic impact in a sustainable manner for the benefit of all stakeholders."
The move comes as UK air passenger numbers continue to recover post-pandemic. According to Aberdeen International Airport, in its most recent filing to Companies House for the year to 31 December 2023, passenger numbers rose 13.6 per cent to 2.3 million.
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