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VINCI Airports To Become Controlling Shareholder In Gatwick Airport

Unic Press UK: VINCI Airports, a VINCI Concessions subsidiary, signed Thursday an agreement to become the controlling shareholder in Gatwick Airport Limited – a freehold airport property – by acquiring an effective 50.01% stake from the current owners Global Infrastructure Partners, who, subsequently, would hold 49.99%. The transaction is expected to be consummated in the first half of 2019. 

In a statement yesterday, Vinci Airports said:

“VINCI Airports is pleased to partner with Global Infrastructure Partners and to benefit from its deep experience and expertise with the airport since 2009. In the year ended 31 March 2018, Gatwick Airport Group reported total revenue of GBP 764.2 million, with EBITDA of GBP 411.2 million. After the closing, VINCI Airports will be able to fully consolidate the Gatwick Airport. The consideration payable for the 50.01% stake is approximately GBP2.9 billion, subject to closing adjustments. This acquisition represents a major strategic move by VINCI Airports into a strongly performing airport located in a globally significant aviation market. Gatwick will become the largest single airport in VINCI Airports’ growing worldwide network. Gatwick Airport has an impressive and highly experienced management team who will continue to manage the business and whom VINCI Airports is delighted to welcome to its global network.”

LGW serves 228 destinations in 74 countries. In 2017, it set a world record of 950 flights in a day. Situated to the south of London, circa forty-six million passengers pass through LGW every year. In the United Kingdom, the London Gatwick Airport (LGW) is ranked the second largest airport after Heathrow.

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