Glasgow and Aberdeen airports acquired with plans to develop both

(Image credit: EQRoy, Shutterstock)

GERMAN-headquartered AviAlliance has announced the purchase of Aberdeen and Glasgow airports with plans to develop both.

The company acquired AGS Airports, which also includes Southampton Airport, from Ferrovial Macquarie for an enterprise value of £1.53 billion.

AviAlliance said that it will leverage its ‘extensive’ global airport expertise to responsibly develop the airports, with plans to enhance their air connectivity, improve passenger experience, and support the local communities.

The company, which is the wholly-owned airports platform of the Public Sector Pension Investment Board (PSP Investments), was founded in 1997 and also owns Athens, Düsseldorf, Hamburg, and San Juan airports – which combined served 73 million passengers in 2023, representing an increase of more than 20% when compared to 2022.

PSP Investments is a long-standing investor in UK infrastructure and real estate, having opened its second international office in London in 2016. Its infrastructure investments include majority ownership positions in Forth Ports, one of the largest port operators in Scotland and England, and Angel Trains, the largest rolling stock company in the United Kingdom.

Gerhard Schroeder, MD of AviAlliance, said, “Aberdeen, Glasgow, and Southampton airports provide vital connectivity for communities in Scotland and the south east of England. As a seasoned airport investor and manager with in-depth industry expertise, AviAlliance will enable each airport to realize their full potential.

“We are committed to supporting the airports over the long term to expand their route networks, further improve the passenger experience and implement the airports’ sustainability strategy.”

Sandiren Curthan, MD and global head of infrastructure investments at PSP Investments added, “PSP Investments is a significant investor across several sectors in Scotland and more broadly, the United Kingdom, with over £10 billion of investments in the United Kingdom.

“Our PSP Infrastructure strategy consists of investing in sectors where PSP Investments has strong expertise and a track record of delivering value for our beneficiaries. Airports is a sector which fits that strategy given AviAlliance’s deep operational expertise.

“We are delighted to add AGS Airports to our infrastructure portfolio and look forward to working with our key stakeholders to improve services to the communities in which AGS Airports operate, recognizing the critical role that these airports play in supporting economic growth in Scotland and England.”