Regional & City Airports (RCA) has entered into an agreement to partner with global alternative asset manager ICG to expand its airports, cargo and executive aviation operations at Exeter, Bournemouth and Norwich airports. RCA is also owner and operator of XLR Executive Jet Centres.
ICG will take over from Rigby Group, which has collaborated with RCA for more than a decade, and the transaction is expected to close later this month.
The new partnership will see ICG’s European Infrastructure team support RCA’s continued growth and well as further accelerate sustainable aviation practices across its operations.
According to RCA, it has “become a model of successful regional aviation” following a period of strong performance, operational transformation and investment. Under Rigby Group’s stewardship, passenger numbers have risen to over two million.
Andrew Bell, chief executive of Regional & City Airports, commented, “Regional & City Airports has flourished into one of the leading UK airport groups and a high-performing enterprise. We are now ready to accelerate further – with the help of our new partner, ICG.
“Across our networks, it will be business as usual, with the same outstanding team and vision, boosted by renewed momentum to drive our continued growth, innovation and sustainability in regional aviation. I’m proud of our team and everything we’ve achieved and look keenly ahead to what’s next.”
Ludovic Laforge, managing director at ICG European Infrastructure, added, “We’re proud to be partnering with one of the UK’s most dynamic regional airport groups in a transaction that underscores our commitment to supporting high-potential infrastructure assets. Regional & City Airports enjoys very robust fundamentals with high-quality leadership, a successful regional focus and strong revenue diversification. A key part of our plan will be to work with the team to further accelerate the transition toward sustainable operations while delivering on the attractive growth potential the platform offers.”
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