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Consortium agrees to purchase 100% of London City Airport

Staff writer |
Alberta Investment Management Corporation on behalf of its clients said the consortium has signed an agreement to acquire the company that owns and operates London City Airport.

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Members of the consortiums are OMERS, Ontario Teachers’ Pension Plan (OTPP) and Wren House Infrastructure Management, the infrastructure investing arm of the Kuwait Investment Authority.

The consortium consists of international infrastructure investors, all with proven track records, which will bring significant financial and operational expertise to London City Airport. Financial details of the transaction have not been disclosed.

London City Airport, which is located in the Royal Docks, in the London Borough of Newham, is a highly attractive infrastructure investment in the UK. The airport represents a unique opportunity to invest in an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service.

London City Airport is located in close proximity to Canary Wharf, the City of London and the West End, and is easily connected through the Docklands Light Railway service to the airport, as well as road links.

Since the acquisition of its controlling stake by Global Infrastructure Partners in 2006, London City Airport has successfully grown passenger numbers from 2 million in 2005 to 4.3 million in 2015, with an 18.3% increase in the last year alone.

The consortium has proven experience as long-term owners and operators of UK and European airports, as evidenced by selected members’ current ownership of Belfast International Airport, Birmingham Airport, Bristol Airport, Brussels Airport and Copenhagen Airport, and historical investments in Rome Airport and Sydney Airport.

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