VINCI Airports to purchase controlling stake in Edinburgh Airport

Thursday, April 18, 2024

VINCI Airports, a subsidiary of VINCI Concessions, has signed an agreement today to acquire a majority stake of 50.01% in Edinburgh Airport Limited, the company that owns Edinburgh Airport, for £1.27 billion. This transaction is slated to be finalized in the summer of 2024, pending regulatory approvals. The remaining 49.99% stake will be overseen by Global Infrastructure Partners (GIP), which has been the airport’s owner since 2012.

This acquisition marks a significant step in the strategic partnership between VINCI Airports and GIP, which began in 2019 with VINCI Airports acquiring a majority stake in London Gatwick Airport.

In 2023, Edinburgh Airport reported total revenue of GBP 272 million and an EBITDA margin of 65%, and it will now be fully integrated into the Group’s accounts. VINCI Airports plans to leverage its global expertise in airport management to enhance Edinburgh Airport’s operations, including both aeronautical and non-aeronautical aspects such as retail. This will involve initiatives like opening new routes and making additional investments. Additionally, VINCI Airports will apply its environmental knowledge to further improve the airport’s already impressive ESG metrics.

Edinburgh Airport boasts a seasoned management team that will continue to lead the company under VINCI Airports’ ownership, contributing to its global network.

This acquisition is in perfect alignment with VINCI Airports’ growth strategy and bolsters its position as a major player in the UK infrastructure market. With nearly €6 billion in revenue in 2023, the UK is a significant market for VINCI. The company has gained substantial experience through its ownership of Belfast International Airport since 2018 and London Gatwick Airport since 2019, demonstrating its resilience and reliability as a partner, even during challenging times.

As Scotland’s largest airport and the sixth largest in the UK, Edinburgh Airport occupies a strategic position in the Scottish capital, serving a catchment area of over 4 million people. It enjoys strong relationships with airlines like easyJet, Ryanair, British Airways, and Jet2, offering flights to over 150 destinations across 38 countries. The airport’s traffic growth potential is promising, particularly in long-haul segments, with a full recovery to pre-COVID levels expected in 2024.

One key advantage of Edinburgh Airport is its freehold ownership structure, unlike many other airports that operate under concession agreements. This makes it a valuable addition to VINCI Airports’ portfolio, aligning with the company’s long-term investment and operational approach.

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