London Gatwick Airport Sold for 2.9 Billion British Pounds

London Gatwick Airport Sold for 2.9 Billion British Pounds

The second largest airport in the United Kingdom, London Gatwick Airport has been sold to France’s Vinci for £2.9 billion. Under the terms of the deal, a consortium led by US investment fund Global Infrastructure Partners (GIP) will sell a 50.01% stake to Vinci Airports.

Vinci operates over 40 airports globally across Europe, Asia and the Americas. Among their portfolio is Tokyo Kansai, Osaka, Santiago de Chile and a number of major airports in France , Phnomh Penh, and Lisbon.

Gatwick is the eighth-busiest airport in Europe according to passenger numbers.

Michael McGhee, GIP partner, said: “We expect the transaction to be completed by the middle of next year, with the senior leadership team remaining in place. The GIP consortium acquire Gatwick in 2009 for £1.5 billion.

The senior management team at Gatwick will stay on following the deal, with chairman Sir David Higgins, chief exec Stewart Wingate, and finance chief Nick Dunn continuing in their roles.

GIP will continue to manage the remaining 49.99% interest in Gatwick after the transaction closes in the second quarter.

Nicolas Notebaert, president of Vinci Airports, said: “As Gatwick’s new industrial partner, Vinci Airports will support and encourage the growth of traffic, operational efficiency and leverage its international expertise in the development of commercial activities to further improve passenger satisfaction and experience.


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Author: Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1979), beginning as a travel agent up through today as a publisher of eTurboNews (eTN), one of the world’s most influential and most-read travel and tourism publications. He is also Chairman of ICTP. His experiences include working and collaborating with various national tourism offices and non-governmental organizations, as well as private and non-profit organizations, and in planning, implementing, and quality control of a range of travel and tourism-related activities and programs, including tourism policies and legislation. His major strengths include a vast knowledge of travel and tourism from the point of view of a successful private enterprise owner, superb networking skills, strong leadership, excellent communication skills, strong team player, attention to detail, dutiful respect for compliance in all regulated environments, and advisory skills in both political and non-political arenas with respect to tourism programs, policies, and legislation. He has a thorough knowledge of current industry practices and trends and is a computer and Internet junkie.

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