Aberdeen, Glasgow, and Southampton airports in the UK are changing ownership in a deal valued at over £1.5 billion (€1.8 billion). Formerly co-owned by Spanish infrastructure firm Ferrovial and Australian financier Macquarie, AGS Airports will now be acquired by AviAlliance, a German-headquartered and Canadian-owned airport management company. The transaction includes £900 million (€1.08 billion) for operations and £653 million (€782 million) in debt that AviAlliance will assume.
Significant Returns on Investment
The purchase price marks a substantial increase from the £1.05 billion (€1.26 billion) that Ferrovial and Macquarie paid in 2014. Ferrovial has estimated a €290 million capital gain from the sale of its 50% stake. This added value is partly due to the £250 million (€300 million) invested in infrastructure upgrades during the past decade. These enhancements include a 50% expansion of Aberdeen International Airport’s terminal and a runway extension at Southampton Airport.
Martin Bradley, Macquarie’s regional head of infrastructure, commented on the sale, saying: “Following this decade of investment, we are pleased to be passing the baton to AviAlliance to unlock the next phase of growth.”
Who Is AviAlliance?
AviAlliance is a global player in airport management, already operating airports in Athens, Düsseldorf, Hamburg, and San Juan, Puerto Rico. The company describes this acquisition as a “major investment in the UK aviation sector,” emphasising the strategic importance of the UK air travel market and its potential for growth in domestic and international passenger numbers.
In 2023, the three AGS airports collectively handled over 10.8 million passengers. If regulatory approvals proceed as expected in early 2025, these passengers will experience the influence of AviAlliance’s extensive expertise. The firm has pledged to focus on improving air connectivity, enhancing passenger experiences, and supporting local communities.
Broader Transport Portfolio
AviAlliance’s parent company, PSP Investments, already has a significant presence in the UK’s transport infrastructure. PSP owns stakes in eight UK ports and Angel Trains, the country’s largest rolling stock firm, which owns and maintains over 4,000 trains. Adding Aberdeen, Glasgow, and Southampton airports to its portfolio aligns with PSP’s broader strategy of investing in critical transportation hubs.
A Promising Future for AGS Airports
With AviAlliance at the helm, AGS Airports is poised for a new era of development. By leveraging global expertise and focusing on regional economic contributions, the company aims to foster growth and modernization across its new UK hubs. This transition underscores the increasing importance of regional airports in supporting business and leisure travel while driving local economic activity.
