Vinci, the owner of Gatwick Airport, recently finalized a deal to acquire a majority stake in Edinburgh Airport from Global Infrastructure Partners (GIP) for £1.3 billion. This agreement will see Vinci holding a 50.01% stake in Edinburgh Airport while GIP retains 49.99%, allowing Vinci to further establish its presence in the UK's airport industry and build on its previous acquisitions of Belfast International and Gatwick.
Edinburgh Airport, which serves over 150 destinations, is the sixth-largest airport in the UK based on passenger numbers, expecting to cater to approximately 14 million passengers this year. The acquisition deal between Vinci and GIP is subject to regulatory approval and is expected to be concluded by summer, marking a significant milestone in Vinci's expansion plans in the UK airport sector. The partnership between Vinci and GIP aims to drive the growth and sustainability goals of Edinburgh Airport, with a focus on enhancing connectivity, improving customer experience, and advancing efforts towards decarbonization.
As part of the transaction, Vinci will also acquire a majority stake in Crosswind Developments, the entity responsible for a business and residential housing project near the airport. The current leadership team at Edinburgh Airport, headed by chairman Sir John Elvidge and CEO Gordon Dewar, will remain in place under the new ownership structure, ensuring continuity in airport operations. Dewar expressed enthusiasm about working with Vinci and GIP to improve customer service, accelerate decarbonization initiatives, and strengthen Scotland's international connectivity, thereby contributing to the country's competitiveness and economic growth.