VINCI Airports completes the acquisition of the majority of the capital (50.01%) from London Gatwick Airport, the second largest airport in the United Kingdom and in the top 10 in Europe, in perpetual property. VINCI Airports thus becomes the second largest airport operator in the world with more than 240 million passengers per year in 12 countries, including 46 million in London Gatwick. This transaction will make it possible on an operational level to generate strong industrial synergies with the VINCI Airports network.
VINCI Airports is today finalizing the acquisition of the majority of the capital (50.01%) of London Gatwick Airport, the perpetual property and second platform of the United Kingdom.London Gatwick Airport is an asset with significant growth potential. This transaction is part of VINCI Concessions’ long-term investment strategy.
The deal enables VINCI Airports to become the second largest airport operator in the world with more than 240 million passengers a year, including 46 million in London Gatwick. VINCI Airports operates today the most diversified global airport network with 46 airports in 12 countries. This international anchorage, unique in the market, places VINCI Airports in an optimal position to capture the growing demand for air mobility worldwide.
Operationally, this transaction is a source of strong industrial synergies: VINCI Airports’ expertise will enable London Gatwick to boost its momentum of progress in terms of quality of service and airport project management. London Gatwick’s experience, particularly in the areas of operational efficiency and the management of aircraft queues, will be shared with the entire VINCI Airports network as part of its continuous improvement strategy. Now integrated into an international network operating on three continents, London Gatwick’s 3,200 employees will gain access to new business opportunities.
In the first quarter of 2019, London Gatwick recorded a passenger growth of 4%. With the opening of new roads, the airport now serves 50 capitals around the world.
Nicolas Notebaert, Managing Director of VINCI Concessions and President of VINCI Airports, said: “The integration of London Gatwick into the VINCI Airports network is excellent news for both our organizations. The activation of our synergies will translate into tangible benefits for our employees, passengers and airlines. The consolidation of a global industry leader is also a positive step for the future of air mobility. As a leader, we intend to move our industry forward with a resilient, sustainable, innovative airport network focused on passenger service . “
For VINCI Airports and Global Infrastructure Partners (GIP), which manages the remaining 49.99% of the airport, the finalization of the transaction is also the opportunity to unveil their common vision for the future development of London Gatwick (“the excellence in the service of passengers “) and to announce the evolution in the continuity of the governance of the airport: Sir David Higgins, Stewart Wingate and Nick Dunn remain respectively president, general manager and financial director of the VINCI Airports airport. They are joined by Cédric Laurier, of VINCI Airports, as technical director.
The VINCI Group financed the debt transaction, including a GBP bond issue launched in March 2019.