7 MAY 2018

Index


© 2022 Business Travel News Ltd.

Article from BTNews 7 MAY 2018

Luton Airport stake sold

French investment company Ardian Infrastructure has agreed to sell its 49% stake in the concession to run Luton Airport (LTN), Britain’s fifth largest in terms of passenger numbers, to a similar Sydney-based operation, AMP Capital.

The price was not revealed, but Reuters, quoting “a source close to the matter”, said the equity value of the stake amounted to £350m (US$488m). The implied value of the concession, including debt, is around £1bn, the source said. This now leaves the Spanish-based airport operator Aena with 66% of the airport.

Ardian acquired its 49% stake in 2013. The airport is owned by the Borough of Luton, the current arrangement set to run until 2030. More than £160m has been invested in developing LTN over the past few years.

Passenger numbers have increased from 9.7m in 2013 to 15.8m last year, making LTN one of the UK’s fastest-growing airports.

AMP global head of infrastructure equity Boe Pahari said: “London Luton Airport is a high-quality capital city airport with significant further growth potential, catering for the high-volume London market, which makes it a compelling investment opportunity.”

A plan to build a rail link between Luton Airport Parkway and the terminal is set to reduce travel time from central London and help Luton compete with other London airports (See BTN 21 April).

www.london-luton.co.uk      www.aena.es/en/passengers/airports-network.html

https://www.ampcapital.com/home      https://www.ardian.com/en/infrastructure

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


www.btnews.co.uk