Article from BTNews 2 MARCH 2020
Farnborough Airport changes hands
Operated by TAG since 1997, the privately-owned and operated business aviation hub Farnborough Airport has been sold to Macquarie Infrastructure and Real Assets, which has invested in 12 commercial airports across Europe and Australia.
Macquarie, which also owns the US-based FBO chain Atlantic Aviation, greeted the takeover by saying it was “hard to overstate the importance of Farnborough”, which saw a record 30,729 aircraft movements last year.
The Hampshire facility is also home to 260,000sq ft of climate-controlled hangar space, more than 1m sq ft of ramp, an award-winning three-storey 52,000sq ft terminal and a hotel.
Movements are expected to have surpassed 32,000 in 2019, which could push the annual passenger figures past 100,000 for the first time. “With an agreed maximum of 50,000 movements, traffic still has considerable room to grow,” Macquarie added.
TAG won the right to operate the former military airfield, the birthplace of flight in the UK and site of the biennial Farnborough International Airshow, in 1997 and was granted a 99yr lease. It has invested more than £100m in the property.
CEO Brandon O’Reilly, who has been in office since 2006, said: “The significant investment that has occurred at Farnborough Airport over the past two decades under the previous shareholders has been transformative.
“With a number of development projects already under way, we are excited to partner with Macquarie to develop our offering to the business aviation market further.”
(See also Farnborough 2020 scholarship, BTN 3 February).
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