French firm buys majority stake in Edinburgh Airport in £1.27bn deal
MAJOR investment has been promised for Edinburgh Airport after its owners sold a majority stake in the business to one of the world’s leading air travel facility operators.
Current owner Global Infrastructure Partners (GIP) has announced that it has sold a 50.01 per cent stake to VINCI Airports, the world’s leading private airport operator, in a deal worth £1.27 billion.
Edinburgh Airport’s Chairman Sir John Elvidge and Chief Executive Officer Gordon Dewar will, along with other key leaders, remain in their roles. GIP has owned the airport since 2012.
Edinburgh Airport is Scotland’s busiest airport and the sixth busiest in the UK, with flights to more than 150 destinations across nearly 40 airlines. Almost 15 million people are expected to pass through the airport this year.
“We are excited to partner with VINCI, with whom we have a strong and productive strategic relationship, to continue to support Edinburgh Airport’s future growth,” said Bayo Ogunlesi, GIP Chairman and Chief Executive Officer.
“We remain committed to providing high-quality service to passengers. We are very pleased VINCI shares our vision of Edinburgh Airport’s future.”
As part of the agreement, GIP and VINCI will jointly lead investment and development of Edinburgh Airport.
The two groups already established a partnership in 2019 at Gatwick Airport.
Michael Mcghee GIP Deputy Chairman and Founding Partner said: “This partnership underlines our commitment to Scotland and its capital city airport.
“We are excited to extend our partnership with VINCI to deliver on our shared aspirations for the future of Edinburgh Airport, including our promise to support the airport’s 2030 sustainability commitments.
“We are pleased the senior leadership team will remain in place under the chairmanship of Sir John Elvidge. Their focus remains on the long-term growth, modernisation and sustainability of the airport and on continuing to improve passenger service.”
Gordon Dewar, chief executive officer of Edinburgh Airport, said: “We welcome and look forward to working with VINCI Airports and Global Infrastructure Partners, two of the world’s most respected airport investors and operators.
“The leadership team – which remains in place – is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland’s connectivity with the world.”