Aberdeen, Glasgow, and Southampton airports sold

Private airport investor and operator, AviAlliance announced the acquisition of AGS Airports from Ferrovial and Macquarie.

The deal has an enterprise value of £1.53 billion and is still subject to regulatory approvals.

It is expected to complete in early 2025.

AGS Airports, established in 2014, operates Aberdeen, Glasgow, and Southampton airports.

AviAlliance says it will leverage its global airport expertise to responsibly develop AGS Airports.

AviAlliance is the wholly-owned airports platform of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors.

AviAlliance’s portfolio of four airports served a combined 73 million passengers in 2023, an increase of more than 20% on the previous year.

It manages stakes in the airports of Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico).

PSP Investments opened its second international office in London in 2016 and already has several UK investments.

Its infrastructure investments include majority ownership in Forth Ports and Angel Trains, the largest rolling stock company in the UK.

Gerhard Schroeder, Managing Director of AviAlliance, said: “Aberdeen, Glasgow and Southampton airports provide vital connectivity for communities in Scotland and the South of England.”

“AviAlliance will enable each airport to realise their full potential. We are committed to supporting the airports over the long term to expand their route networks, improve the passenger experience and implement the airports’ sustainability strategy.”