Edinburgh Airport majority stake bought by French Gatwick Airport owner VINCI for £1.27 billion

Edinburgh Airport deal expected to be completed this summer

One of the world’s leading private airport operators has acquired a majority stake in Edinburgh Airport for a reported figure of £1.27 billion.

French firm VINCI Airports operates more than 70 airports in 13 countries, including London’s Gatwick Airport and Belfast International.

Global Infrastructure Partners (GIP) has agreed to sell a 50.01 per cent stake to VINCI, and said it will retain the remaining 49.99 per cent stake and form a strategic partnership with VINCI to “continue to support Edinburgh Airport’s future growth”.

Edinburgh Airport has welcomed the investment partnership announced by GIP and VINCI Airports.

Sir John Elvidge, chairman of Edinburgh Airport, said: “We are pleased to welcome VINCI Airports to Scotland and recognise that this is a significant vote of confidence in Scotland, and the future of its capital city airport.”

A majority stake in Edinburgh Airport has been sold to French firm VINCI.

Gordon Dewar, chief executive officer of Edinburgh Airport, said: “We welcome and look forward to working with VINCI Airports and GIP, 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.”

Bayo Ogunlesi, GIP’s chairman and chief executive officer, said: “We are excited to partner with VINCI, with whom we have a strong and productive strategic relationship, to continue to support Edinburgh Airport’s future growth.

“We remain committed to providing high-quality service to passengers. We are very pleased VINCI shares our vision of Edinburgh Airport’s future.”

Nicolas Notebaert, chief executive officer of VINCI Concessions and president of VINCI Airports, said: “We are delighted to announce the expansion of our successful and strategic partnership with GIP to include Edinburgh Airport.

“Together with GIP, VINCI Airports will continue the strategy of growing connectivity and developing commercial activities, whilst also leveraging VINCI Airport’s international expertise to accelerate decarbonization and continually improving customer experience.

“This acquisition of a third freehold airport in the UK, in addition to London Gatwick and Belfast International, demonstrates VINCI Airports’ long term strategic ambition and continued commitment to the country.”

Michael McGhee, GIP’s’ deputy chairman and founding partner, 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.”

Scotland’s busiest airport, Edinburgh Airport supports 28,000 jobs in Scotland and contributes £1.4 billion a year to the Scottish economy. Working with 35 airlines, the airport connects Scotland to 155 destinations in the UK and around the world.

Responding to news that VINCI is set to buy a majority stake in Edinburgh Airport, local MP Christine Jardine (Lib Dem), who represents Edinburgh West, said: “I have been reassured that this purchase will come with no negative implications for the jobs of current airport staff. This will be welcome news for my constituents in Edinburgh West.

“I look forward to meeting with representatives from VINCI and hearing their plans to provide the best possible customer experience for my constituents, as well as the many visitors our city welcomes every day.”