GLASGOW and Aberdeen airports have been sold to a Spanish and Australian consortium for over £1 billion.
Heathrow Airport Holdings has confirmed it will sell its 100 per cent interest in Aberdeen International Airport Limited, Glasgow Airport Limited and Southampton International Airport Limited to a consortium formed by Spanish-based Ferrovial and Australia-based Macquarie for a total of 1.048 billion.
The sale is subject to EU regulation and the consideration will be increased to compensate Heathrow for a time delay to the closing date.
Aberdeen International Airport serves 3.4 million passengers a year driven by the gas and oil sectors, while Glasgow Airport carries 7.4 million passengers annually.
Southampton International Airport has around 1.7 million travellers a year.
The sale is expected to close no later than January 2015.
Once completed Heathrow Airport Holdings will only operate Heathrow Airport.
John Holland-Kaye, chief executive of Heathrow, said: “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.”
Iñigo Meirás, chief executive of Ferrovial said: “As a long standing investor in the UK, we are aware of the importance of these airports for the population in their surrounding areas.
“The transaction proves how valuable these assets are for Ferrovial. We are committed to improve these facilities and their services looking to a better passenger experience and in order to grant access to further domestic and international destinations.”
Edward Beckley, European head of Macquarie Infrastructure and Real Assets, said: “As the world’s leading infrastructure asset manager, Macquarie has a long and successful track record of investing in and developing airports around the world.
“We look forward to working with these airports over the long term to support route growth and enhance the passenger experience for the communities they serve.”
The three airports will continue to be managed locally to meet the needs of their local communities, with the added benefit of being supported by the joint ownership of Ferrovial and Macquarie.