Edinburgh Airport sold to Global Infrastructure Partnership
BAA has confirmed it will sell Edinburgh Airport to Global Infrastructure Partnership for £807 million.
GIP already operates London Gatwick and London City airports.
Colin Matthews, chief executive of BAA, said: “Edinburgh Airport and its team have been part of BAA for a long time and we are proud of its achievements.
“We wish the new owners every success and are confident the airport will continue to flourish.
“BAA will continue to focus on improving passengers’ journeys at Heathrow and its other airports.”
BAA’s hand was forced by a decision by the Competition Commission requiring the sale of either Edinburgh or Glasgow airport as a means to improving competition in the UK aviation sector.
Adebayo Ogunlesi, chairman and managing partner of GIP, commented: “Edinburgh Airport is a high quality infrastructure asset.
“We see significant opportunity to apply our tested and successful operational expertise and our knowledge of the global airports sector to develop and enhance the performance of Edinburgh Airport in years to come.”
Edinburgh Airport handled 9.3 million passengers in 2011 and generated EBITDA of £48.3 million for the same period.
After the sale of Edinburgh Airport, BAA will own Heathrow, Stansted, Glasgow, Aberdeen and Southampton airports.
The sale is expected to close by the end of May.