Article from BTNews 5 JUNE 2017
Belfast: New owner, new route
A fund managed by 3i Group plc (“3i”) last week took formal ownership of George Best Belfast City Airport – on the same day the airport’s new route was launched to Reykjavik with Icelandair, which will open up connections to North America.
The group is an international investment manager focused on mid-market private equity and infrastructure. Its head office is based in London and its core investment markets are northern Europe and North America.
The acquisition of the airport by new owners was first announced last December as part of a wider transaction for the fund to acquire a portfolio of assets, including Belfast City, then owned by the EISER Global Infrastructure Fund.
The transaction was subject to a number of conditions, including approval from the European Commission under the EU Merger Regulation. These have now been achieved.
Airport chief executive Brian Ambrose said: “The arrival of 3i is another important landmark in what has been an exciting period of expansion for the business.
“We have a stellar airline portfolio, including blue-chip brands such as KLM, Flybe, British Airways and Aer Lingus, and we are confident of continuing to grow our route network and profitability in years to come.”
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