Airport is sold to
consortium in £1bn agreement

HMS Victory and the Mary Rose Museum from the air     Picture: Shaun Roster

‘Nowhere in Europe offers everything Portsmouth does’

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SOUTHAMPTON Airport has been sold with two other airports to a consortium for more than £1bn.

Heathrow Airport Holdings Limited has agreed to sell its 100 per cent interest in Aberdeen International Airport Limited, Glasgow Airport Limited and Southampton International Airport Limited to a consortium formed by Ferrovial and Macquarie for £1,048m in cash and assumed debt, payable in full at closing.

Dave Lees, managing director of Southampton Airport, said: ‘Southampton Airport has undergone a number of ownership changes during its 100-plus year history.

‘During this time it has continued to go from strength to strength.

‘The airport is widely recognised for its important role in the regional economy and for its award-winning customer service.

‘I am convinced that under new ownership Southampton Airport has a positive future and we will be working together to ensure a smooth transition over the coming months.’

John Holland-Kaye, chief executive of Heathrow Airport Holdings Limited, added: ‘Aberdeen, Glasgow and Southampton airports and their people have been part of our company for a long time.

‘They are great airports and we are proud of their achievements. We wish the new owners and our airport colleagues every success and are confident the airports will continue to flourish.

‘This sale enables us to focus on improving Heathrow for passengers and winning support for Heathrow expansion.

‘Heathrow is the UK’s only hub airport, connecting the whole of the UK to the world and bringing economic benefits locally and nationally.’

The sale is expected to close no later than January 2015.

Approximately 1.7m passengers and 40,000 flights pass through Southampton every year.

Fifteen airlines operate from Southampton, serving more than 40 destinations.