Aberdeen Airport could soon see new routes and investment following the sale of a 22% minority stake to Blackstone Infrastructure.
The £235 million deal with AGS Airports, which operates Aberdeen, Glasgow, and Southampton airports, is set to boost the airport’s growth potential.
This comes just months after AviAlliance, a major private airport investor, acquired AGS Airports for £1.53 billion.
At that time, the new owner said it was committed to ensuring Aberdeen Airport reached its “full potential” including expanding its route network.
Why Blackstone is investing in Aberdeen Airport
Blackstone Infrastructure is part of American investment group Blackstone, the world’s largest alternative asset manager. It has more than $1 trillion of assets under management.
It has a strong history of investing in transportation projects worldwide.
Its portfolio includes Mundys, the largest toll road platform globally, which also manages Roma Fiumicino and Ciampino airports.
It also owns Signature Aviation, the biggest network of private aviation terminals, and ASPI, the largest toll road platform in Europe.
Greg Blank, chief executive of Blackstone Infrastructure, expressed excitement about the deal’s potential for AGS Airports’ future growth.
He highlighted the company’s diverse mix of airlines and its recent capital improvements to accommodate larger aircraft, paving the way for new routes and increased traffic.
“Transportation remains a key thematic focus area for Blackstone, given continued strong global growth in leisure travel,” he said.
Growth at Aberdeen Airport
Gerhard Schroeder, managing director of AGS majority stakeholder AviAlliance, said the new partnership with Blackstone will strengthen AGS Airports’ position in both Scotland and the wider UK.
“We look forward to developing a constructive and long-term partnership with Blackstone for the benefit of AGS, its management and employees, as well as all other stakeholders at the three airports,” he added.
“Together, we will further strengthen the position of AGS in both Scotland and the wider United Kingdom.”
Recently published accounts at Companies House show turnover rose to £51.9m 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 also soared, with 2.3 million people passing through the airport, marking a 24% jump in international traffic and a 9.3% rise in domestic users.
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