Aberdeen and Glasgow Airports Sold: In a major infrastructure transaction, AGS Airports, the operator behind Aberdeen, Glasgow, and Southampton airports, is set to change ownership in a £1.53 billion deal. Spanish construction giant Ferrovial and Australian finance company Macquarie, each owning 50% of AGS, have agreed to sell their stakes to AviAlliance, a global airport investor owned by Canada’s PSP Investments.
This high-profile acquisition, which includes AviAlliance assuming £653 million in debt, is expected to close by early 2024. With over 10.8 million annual passengers utilizing AGS’s airports for connections across Scotland and southeast England, the change in ownership comes with strong growth prospects.
AviAlliance, already managing airports in Athens, Düsseldorf, Hamburg, and San Juan, aims to bolster the Scottish and English airports’ offerings. “We are committed to expanding route networks, enhancing passenger experience, and advancing sustainability goals,” stated Gerhard Schroeder, AviAlliance’s managing director.
This transaction follows Ferrovial and Macquarie’s £1.05 billion acquisition of AGS in 2014, where they invested over £250 million across the airports, including expansions at Aberdeen International and a £17 million runway extension at Southampton. Macquarie’s Martin Bradley noted that after a decade of growth, AviAlliance is poised to lead AGS into its next chapter.
With PSP Investments’ strong UK portfolio, including a major stake in Forth Ports and Angel Trains, this acquisition further strengthens Canada’s footprint in UK infrastructure.
