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Heathrow Airport Holdings announces sale of Glasgow Airport

Glasgow Airport front of building

Heathrow Airport Holdings Limited (“Heathrow”) has agreed to sell its 100% interest in Aberdeen International Airport Limited, Glasgow Airport Limited and Southampton International Airport Limited to a consortium formed by Ferrovial and Macquarie for £1,048 million in cash and assumed debt, payable in full at closing.  

At closing, the sale consideration will be increased to compensate Heathrow for the time delay between today and the closing date. In addition, the sale is subject to EU merger regulation clearance. 

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."

Amanda McMillan, managing director of Glasgow Airport, added: "Clearly this is a landmark day for Glasgow Airport and whilst we will be sorry to leave the Heathrow group, we do so knowing we're in an extremely strong position. We have benefited from considerable investment in recent years and have achieved a great deal of success in securing new routes and growing passenger numbers.

"Together with my team, I am looking forward to working with Ferrovial and Macquarie to further develop our airport and ensure it continues to deliver for Glasgow and Scotland."

The sale is expected to close no later than January 2015.

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Further information:

Heathrow Airport Holdings media enquiries - +44 (0)20 8745 7224

Notes to editors:

  1. Aberdeen Airport is the gateway to Europe's energy capital. It is the world’s busiest commercial heliport, transporting more than 500,000 passengers in support of the North Sea oil and gas industry. A total of 3.4m passengers and 118,000 flights pass through Aberdeen every year. 21 airlines operate from Aberdeen, serving 48 destinations. 2,500 people work at Aberdeen Airport including 259 airport employees.
  2. Glasgow Airport is Scotland’s principal long-haul airport as well as Scotland’s largest charter hub.  Approximately 7.4m passengers and 80,000 flights pass through Glasgow every year. 30 airlines operate from Glasgow, serving more than 100 destinations. 4,500 people work at Glasgow Airport including 417 airport employees.
  3. Southampton Airport is the "breeze through" airport for central southern England with award winning levels of customer service. Approximately 1.7m passengers and 40,000 flights pass through Southampton every year. 15 airlines operate from Southampton, serving more than 40 destinations. 1,200 people work at Southampton Airport including 185 airport employees.
  4. Following the sale of Aberdeen, Glasgow and Southampton, Heathrow Airport Holdings Limited will operate one airport: Heathrow.
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