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Aberdeen airport sold as part of £1billion deal

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Buyers have sealed the deal to buy Aberdeen International Airport (AIA) as part of a deal worth £1billion.

Ferrovial has joined forces with Australian infrastructure group Macquarie to acquire AIA along with Glasgow and Southport airports from owners Heathrow Airport Holdings (HAH) for £1.048billion.

The new owners, which have been negotiating a sale for months, pledged to improve the airports’ facilities and services.

Iñigo Meirás, chief executive of Ferrovial said: “As a long standing investor in the UK, we are aware of the importance of these airports for the population in their surrounding areas.

“The transaction proves how valuable these assets are for Ferrovial. We are committed to improve these facilities and their services looking to a better passenger experience and in order to grant access to further domestic and international destinations.”

A spokesman for Macquarie’s Infrastructure and Real Assets division said:

“We are attracted to Aberdeen Airport as an investment given its role as a key transport hub for the oil & gas industry, as well as a key component of the regional infrastructure in North Eastern Scotland for business and leisure travellers alike. We see opportunities for expansion and enhancement of routes, services and facilities.

“Aberdeen Airport has existing development plans. In time we will work with local stakeholders to look at these plans and where necessary review and update.

He added: “We will listen carefully to customers and local stakeholders. We aim to grow our airports responsibly and invest at the right time in high quality infrastructure.”

The joint venture beat out a rival bid from a consortium including the North East Scotland Pension Fund.

It is though Ferrovial, which already has a 25% stake in HAH, was able to up its bid when Macquarie came on board.

Business leaders welcomed the news.

Rob Aberdein, partner of law firm Aberdein Considine, said: “Aberdeen International Airport has been crying out for proper investment for decades – if this deal is to work that investment now needs to happen.

“The airport has seen record growth in recent years and in many ways has become a victim of its own success.

“Europe’s oil capital needs a facility befitting that title. We know of occasions when international visitors have been forced to stay on their aircraft because the airport can only handle one international flight at a time. More often than not, they are then greeted by a huge queue for a taxi – if first impressions do in fact last a lifetime, then what is this doing to the city’s reputation?

“Hopefully this deal will signal a new era for the busy terminal.”

Carol Benzie, managing director of the airport, was keen to stress that operations would continue unchanged while the deal was completed.

She said: “Work has been taking place behind the scenes for a number of months now, to provide all the necessary information that allowed this conclusion to be reached in a timely manner.

“Locally things remain very much business as usual. Our passenger numbers continue to grow, and we will continue to operate as we have been with a focus on the safety and security of our customers, as well as on delivering an excellent standard of customer service.

“No changes to the way we operate are planned and we will keep striving to deliver on all our commitments in the run up to a formal handover by the end of the year.”