As part of the agreement, GIP and VINCI will jointly lead investment in, and development of, Edinburgh Airport and establish a long-term strategic partnership for the airport's future development, similar to the successful partnership established in 2019 at Gatwick Airport.
Edinburgh Airport's Chairman Sir John Elvidge and Chief Executive Officer Gordon Dewar will, along with other key leaders, remain in their roles. "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," said Bayo Ogunlesi, Global Infrastructure Partners' Chairman and Chief Executive Officer. "We remain committed to providing high-quality service to passengers. We are very pleased VINCI shares our vision of Edinburgh Airport's future."
"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," said Michael McGhee, Global Infrastructure Partners' Deputy Chairman and Founding Partner. "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."
"We are delighted to announce the expansion of our successful and strategic partnership with GIP to include Edinburgh Airport," said Nicolas Notebaert, Chief Executive Officer of VINCI Concessions and President of VINCI Airports. "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."
Edinburgh Airport is Scotland's busiest airport and the sixth busiest airport in the United Kingdom, offering flights to more than 150 destinations across 40 airlines.
As part of the transaction, Crosswind Developments, which is promoting an important business and residential development adjacent to the airport, will assume the same ownership structure as the airport. Its management team and strategy will remain, with Chairman Steve Dunlop and Chief Executive Officer John Watson continuing in their respective roles.
The completion of the transaction is subject to the satisfaction of customary conditions including regulatory and competition clearances in relevant jurisdictions. The transaction is expected to close in mid-2024.
