VINCI Airports becomes the world’s second largest airport operator with the integration of London Gatwick airport
14 May 2019 - 7:00 am - Acquisitions - United Kingdom
· Closing of the acquisition of a majority shareholding (50.01%) in London Gatwick airport
· Second-largest airport in the UK and in the top ten in Europe, freehold property in the world’s largest airport market
· VINCI Airports now the second largest airport operator in the world with over 240 million passengers a year in 12 countries, including 46 million at London Gatwick
· Strong industrial synergies with the VINCI Airports network
Today, VINCI Airports completed the acquisition of a majority shareholding (50.01%) in London Gatwick airport, a freehold property and the UK’s second-largest airport. London Gatwick airport is an asset with substantial growth potential and the transaction fits perfectly into the VINCI Concessions long-term investment strategy.
With this transaction, VINCI Airports becomes the world’s second-largest airport operator with over 240 million passengers a year including 46 million at London Gatwick. VINCI Airports now operates the world’s largest and most diversified airport network, with 46 airports in 12 countries. This international outreach is unique in the market and puts VINCI Airports in an optimal position to capture the growing demand for air transport worldwide.
Operationally, the transaction generates strong industrial synergies. VINCI Airports’ expertise will enable London Gatwick to make further progress in areas such as quality of service and airport management. Similarly, London Gatwick’s experience, particularly in areas such as operational efficiency and aircraft queuing management will be shared with the whole VINCI Airports network as part of its permanent improvement strategy. Additionally, as part of a global network operating on three continents, London Gatwick’s 3,200 employees will now have access to broader professional opportunities.
In the first quarter of 2019, London Gatwick recorded 4% growth in passenger numbers. With the opening of new routes, London Gatwick now serves 50 capital cities around the world.
Nicolas Notebaert, CEO of VINCI Concessions and President of VINCI Airports, said: “London Gatwick’s integration into the VINCI Airports network is an excellent outcome for both organisations. Our synergies will lead to further tangible benefits for employees, passengers and airlines. The consolidation of a world-wide, industrial leader is also a positive step for the future of air transport. As a leader, VINCI Airports will help the sector to improve through its resilient, sustainable, innovative and customer-friendly airport network”.
For VINCI Airports and Global Infrastructure Partners (GIP) - which manages the remaining 49.99% of London Gatwick - the closing of the transaction represents an ideal opportunity to express their shared vision for the future development of London Gatwick (“Putting passengers first”) and to announce that the governance of London Gatwick will be largely based on continuity: Sir David Higgins, Stewart Wingate and Nick Dunn will remain, respectively as Chairman, CEO and CFO of the airport, and will be joined by Cédric Laurier, from VINCI Airports, as CTO (Chief Technical Officer).
The VINCI Group has financed the transaction by borrowing and in particular by the sterling bond issue launched in March 2019.
About VINCI Airports
VINCI Airports manages the development and operation of 46 airports located in France, Portugal, the United Kingdom, Sweden, Serbia, Cambodia, Japan, the United States, Dominican Republic , Costa Rica, Chile and Brazil. VINCI Airports is the world’s second largest airport operator with over 240 million passengers annually on its network, served by around 250 airlines. Through its expertise as a comprehensive integrator, VINCI Airports develops, finances, builds and operates airports, leveraging its investment capability, international network and know-how to optimize the management and performance of existing airport infrastructure, facility extensions and new-build construction projects. In 2018, its annual revenue for managed activities amounted to €3.6 billion, for consolidated revenue of €1.6 billion. More comprehensive information is available on www.vinci-airports.com
VINCI is a global player in concessions and contracting, employing close to 211,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.