DALLAS — AGS Airports has announced the sale of Aberdeen, Glasgow, and Southampton airports to AviAlliance in a deal reported to be worth £1.53 billion. Ferrovial and Macquarie founded AGS airport in 2014 and developed it into a 50-50 joint venture.
The addition of these three new airports supplements AviAlliance’s existing portfolio of Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico).
While Aberdeen and Southampton serve the short-haul segment of the market, Glasgow, on the other hand, has a much broader range of scheduled services, spanning from Twin Otter turboprops through to a daily Emirates (EK) A380 service.
Historic Context
AGS Airports was formed in 2014 to operate the trio of regional airports following the acquisition of the airport portfolio from Heathrow Airport Holdings Limited.
AviAlliance is the wholly-owned airport platform of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors. PSP Investments acquired AviAlliance in 2013, following its founding in 1997.
Inside Comment
Gerhard Schroeder, Managing Director of AviAlliance, 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.”
Andy Cliffe, Chief Executive Officer of AGS Airports, 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.”
The transaction is subject to regulatory approval and is expected to be completed in Q1 next year.
Featured image: AGS Airports
