The new owner of Aberdeen Airport has described it as having “strong growth potential” following its acquisition.
AviAlliance, a leading private airport investor and operator, today confirmed it had completed the deal to acquire AGS Airports from Ferrovial and Macquarie.
Managing director Gerhard Schroeder believes the Granite City airport is an “excellent asset” for the operator which paid £1.53bn for the company.
Aberdeen Airport ‘strong growth potential’
AGS Airports also operates Glasgow and Southampton airports.
Mr Schroeder 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.”
It already operates Athens International Airport, Dusseldorf, Hamburg and San Juan Airport in Puerto Rico.
The acquisition sees Kam Jandu, most recently CEO of Budapest Airport, appointed new chief executive of AGS Airports. He succeeds Andy Cliffe who has left by mutual consent.
Mr Jandu, who has more than 30 years of experience in aviation, said: “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.
“I am looking forward to continuing the excellent achievements that have already been reached in this regard and to delivering the ambitious plans in the years ahead.”
Mr Cliffe said: “It has been my pleasure to lead AGS Airports for the past years as we successfully transformed the business into the world-class airport operator it is today focused on delivering the enormous growth potential of the group.”
Who are the new owners AviAlliance?
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.
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.
Richard Chang, PSP Investments managing director and head of Europe and Asia-Pacific, infrastructure investments, said: “We are proud to add AGS Airports to our infrastructure portfolio, and to further increase our commitment to Scotland and the wider United Kingdom.
“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.”
Conversation