AviAlliance has completed its acquisition of AGS Airports – the operator of Aberdeen, Glasgow and Southampton airports – from Ferrovial and Macquarie for an enterprise value of £1.53bn (US$1.59bn), having received all relevant regulatory approvals.
AviAlliance acquisition
Following the acquisition, AGS Airports will become part of AviAlliance – joining the company’s global airport network, which also includes stakes in Athens, Düsseldorf, Hamburg and San Juan (Puerto Rico) airports.
Gerhard Schroeder, managing director of AviAlliance, said, “We are delighted to formally welcome AGS Airports into the AviAlliance family and look forward to developing a constructive and long-lasting partnership with all three airports. Aberdeen, Glasgow and Southampton airports are excellent assets with strong growth potential that will benefit significantly from the forward-thinking exchange of expertise in growing connectivity, expanding passenger numbers and delivering superior passenger experience from across our world-class airport portfolio.”
Richard Chang, managing director and head of Europe and Asia-Pacific infrastructure investments at PSP Investments (the owner of AviAlliance), added, “We are proud to add AGS Airports to our infrastructure portfolio and to further increase our commitment to Scotland and the wider United Kingdom. We believe that the operational expertise and track record of AviAlliance will deliver tangible benefit for AGS Airports and the communities it serves in Glasgow, Aberdeen and Southampton.”
New CEO of AGS Airports
With this acquisition, AviAlliance also announced the appointment of Kam Jandu (below) as CEO of AGS Airports with immediate effect. Jandu has three decades of experience in senior roles in the aviation and travel industries, having most recently served as CEO of Budapest Airport. He will succeed Andy Cliffe, who departs AGS Airports by mutual consent and will support Jandu to ensure an orderly leadership transition.
Jandu commented, “I am both delighted and grateful to have been given the opportunity to lead and support AGS Airports on the next exciting phase in their growth strategy. Aberdeen, Glasgow and Southampton airports offer unique propositions and catchment areas that present growth opportunities for airlines and other business partners alike. Working with the great people we have across the group and airports, we aim to further improve their economic impact in a sustainable manner for the benefit of all stakeholders. I am looking forward to continuing the excellent achievements that have already been reached in this regard and to delivering the ambitious plans in the years ahead.”
Cliffe concluded, “It has been my pleasure to lead AGS Airports for the past years as we successfully transformed the business into the world-class airport operator it is today, focused on delivering the enormous growth potential of the group. I will look back fondly on my time as CEO and I look forward to working closely with Kam and AviAlliance during this transition period, and wish the team every success as they lead this outstanding business into its next chapter.”
In related news, Glasgow Airport recently launched a digital assistant, powered by Hello Lamp Post, to improve the travel experience for passengers. Click here to read the full story.