VINCI Airports has announced plans to acquire a controlling stake in Scotland’s busiest airport.
The £1.27 billion deal will see the French firm take a 50.01 per cent shareholding in Edinburgh Airport Limited – the company which owns Edinburgh Airport.
Subject to regulatory approvals the acquisition is expected to be completed this summer, with the remaining 49.99 per cent stake remaining with Global Infrastructure Partners, which has owned the airport since 2012.
It follows a similar deal with Gatwick Airport in 2019, which also saw VINCI acquire a 50.01 per cent stake in the airport from Global Infrastructure Partners.
VINCI said it would “leverage its global airports experience to further develop Edinburgh Airport – both aeronautical and non-aeronautical (especially retail) – by opening new routes and making additional investments”.
Edinburgh was the UK’s sixth busiest airport last year, welcoming 14.4 million passengers. This figure was slightly down on the airport’s pre-pandemic record of 14.7 million in 2019, but it is expected to fully recover passenger numbers in 2024.
VINCI operates more than 70 airports in 13 countries across Europe, Asia and the America, and Edinburgh will be the third UK facility in its network, joining Gatwick and Belfast International.
In October VINCI announced plans to invest £100 million at Belfast International over the next five years.
VINCI announces £100 million investment plan for Belfast International
Commenting on the news Gordon Dewar, chief executive officer of Edinburgh Airport, said:
“We welcome and look forward to working with VINCI Airports and Global Infrastructure Partners, two of the world’s most respected airport investors and operators.
“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.”
Next month JetBlue will launch transatlantic flights between Edinburgh and New York JFK, competing with Delta on the route.