All change at AGS Airports as AviAlliance completes acquisition

Global airport operator, AviAlliance, has officially completed the acquisition of AGS Airports, the operator of Aberdeen, Glasgow and Southampton airports in the UK.

The sale, agreed with Ferrovial and Macquarie late last year, values the UK airport assets at £1.53 billion.

AviAlliance is a wholly-owned subsidiary of PSP Investments, one of Canada’s largest pension investors, which is a long-standing investor in UK infrastructure with majority stakes in the port operator Forth Ports, one of the UK’s largest port groups and Angel Trains, the largest rolling stock company in the UK.

Glasgow airport.

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.

Former Budapest Airport CEO, Kam Jandu, has been named as the new CEO of AGS Airports with immediate effect, succeeding Andy Cliffe who departs AGS Airports by mutual consent.

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.

“I also wish to thank Andy for his leadership of AGS Airports which has positioned the airports it operates for strong growth and look forward to working with Kam on the execution of our vision.”

While Richard Chang, managing director and head of Europe and Asia-Pacific, Infrastructure Investments at PSP Investments, said: “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.”

Commenting on his appointment, Jandu noted: “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 which 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.”