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New Aberdeen Airport owner wants more flight destinations after £1.5bn acquisition

Its new owner said it was committed to making sure the airport reached "its full potential" including looking to expand routes.

Aberdeen International Airport.
Aberdeen International Airport has been sold. Image: Paul Glendell/DC Thomson

Aberdeen Airport has been sold as part of a £1.53 billion sale.

The owners of AGS Airports, which operates Aberdeen, have sold the company ending months of speculation over a possible deal.

AviAlliance, a leading private airport investor and operator, today announced the acquisition of AGS Airports from Ferrovial and Macquarie.

AGS Airports also operates Glasgow and Southampton airports.

Plans to expand Aberdeen routes

The sale is expected to be completed early next year.

Gerhard Schroeder, AviAlliance managing director, said: “Aberdeen, Glasgow and Southampton airports provide vital connectivity for communities in Scotland and the south-east of England.

“As a seasoned airport investor and manager with in-depth industry expertise, AviAlliance will enable each airport to realize their full potential.

“We are committed to supporting the airports over the long term to expand their route networks, further improve the passenger experience and implement the airports’
sustainability strategy.”

Madrid-based Ferrovial, through a partnership with Australia’s Macquarie Infrastructure, both paid Heathrow Airport Holdings (HAH) nearly £1.05 billion for the airports in Aberdeen, Glasgow and Southampton in December 2014.

During its time owning Aberdeen Airport it invested £20m in increasing terminal space by 50% enhancing security facilities, an increased retail offering, new areas for baggage reclaims, expanded business lounges, and new immigration and arrivals facilities.

Passenger numbers on the rise

Recently published accounts at Companies House show turnover rose to £51.9 million at Aberdeen International Airport Ltd in 2023, an increase of 12% from £46.3m in 2022.

Pre-tax profits soared to £6.8m last year, up from £266,000 in 2022.

Passenger numbers at Aberdeen Airport rocketed to 2.3 million last year, with international traffic soaring by 24%, bumped further by a 9.3% increase in domestic users.

Aberdeen International Airport.
Passenger numbers are on the rise at Aberdeen International Airport. Image: Darrell Benns/DC Thomson.

Andy Cliffe, AGS Airports chief executive, said: “Over the past 10 years, Macquarie and Ferrovial have played a central role in unlocking our full potential.

“Their close partnership with the teams across our three airports ensured we had the support to invest in our passenger offering while improving our operations.

“We are grateful for their close stewardship and look forward to continuing to develop our services and beneficial impact on passengers and communities across the regions of Aberdeen, Glasgow and Southampton.”

Who are the new owners?

AviAlliance is the wholly-owned airports platform of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors.

Founded in 1997 and acquired by PSP Investments in 2013, it has a track record of traffic growth, operational excellence and superior passenger experience as well as investment in its airports.

It already operates Athens International Airport, Dusseldorf, Hamburg and San Juan Airport in Puerto Rico.

AviAlliance said it will “leverage its extensive global airport expertise to responsibly develop AGS Airports, enhancing air connectivity, improve the passenger experience, and support local communities”.

PSP infrastructure investments include majority ownership positions in Forth Ports, and Angel Trains, the largest rolling stock company in the United Kingdom.

Sandiren Curthan, PSP Investments managing director and global head of infrastructure investments, said: “We are delighted to add AGS Airports to our infrastructure portfolio and look forward to working with our key stakeholders to improve services.”

Martin Bradley, Macquarie Asset Management head of infrastructure in Europe, Middle East and Africa, said: “Since 2014, we have worked in partnership with Ferrovial to support around £250 million of investment by AGS Airports aimed at delivering a better experience for passengers travelling via Aberdeen, Glasgow and Southampton airports.

“Following this decade of investment, we are pleased to be passing the baton to AviAlliance to unlock the next phase of growth.”

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