UK/GERMANY. Leading airport investor and operator AviAlliance has completed its acquisition of AGS Airports, which runs Aberdeen, Glasgow and Southampton airports.
The purchase from Ferrovial and Macquarie for an enterprise value of £1.53 billion (US$1.9 billion), first reported in November, has been confirmed, having received all relevant regulatory approvals.
AviAlliance has also named Kam Jandu (right) as AGS Airports CEO with immediate effect. He brings three decades of experience in senior roles in the aviation and travel industries, having most recently served as CEO (and before that, Chief Commercial Officer) of Budapest Airport.
Jandu succeeds Andy Cliffe who departs AGS Airports by mutual consent. He will support Jandu to ensure an orderly leadership transition.
Kam Jandu said: “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.”
Andy Cliffe said: “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 CEOand 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.”
AviAlliance Managing Director Gerhard Schroeder 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.”
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.”
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. AGS Airports joins the company’s global airport network, which also includes stakes in Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico) airports. ✈
