A FRENCH firm has struck a deal to buy a majority stake in Edinburgh Airport for around £1.27 billion.
Global Infrastructure Partners (GIP), which has owned the airport since 2012 and also owns Gatwick Airport as part of a consortium of investors, has agreed to sell a 50.01% stake in the Scottish airport to French infrastructure group Vinci.
GIP will retain the remaining 49.99% stake and form a strategic partnership with the company.
Edinburgh Airport’s chairman Sir John Elvidge and chief executive Gordon Dewar will remain in their roles following the deal.
Commenting on the latest news, Dewar said: “The leadership team – which remains in place – is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland’s connectivity with the world, which ultimately drives the country’s international competitiveness and prosperity.
“I should thank the whole team at Edinburgh Airport for the contribution they have made to our success over the last 12 years since GIP acquired the airport and look forward to working with them to write a new, exciting chapter in the airport’s story.”
As part of the agreement, GIP and Vinci will jointly lead investment and the development of Edinburgh Airport.
Michael McGhee, GIP deputy chairman, said: “This partnership underlines our commitment to Scotland and its capital city airport.
“We are excited to extend our partnership with Vinci to deliver on our shared aspirations for the future of Edinburgh Airport, including our promise to support the airport’s 2030 sustainability commitments.
“We are pleased the senior leadership team will remain in place under the chairmanship of Sir John Elvidge.
“Their focus remains on the long-term growth, modernisation and sustainability of the airport and on continuing to improve passenger service.”
Source: The National
