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London City airport sold

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Published: 26/02/2016 - Filed under: News »

London City airport (LCY) has been sold to a Canadian consortium for a reported £2bn.

The consortium includes Alberta Investment Management Corporation, and investment funds the Ontario Teachers' Pension Plan and Wren House, part of the Kuwait Investment Authority.

Announcing the deal Declan Collier, CEO, London City Airport said:

“I’m delighted to welcome the Consortium as the new owners of the only airport actually in London.

"London City Airport is a successful business with huge opportunities for growth - opportunities that will create jobs, generate more benefit for the UK economy and build new connections to and from London to commercial centres around the world.

"GIP’s ownership has turned the airport into the award-winning and record-breaking business that it is today, and I look forward to working with the new shareholders, as responsible, long-term investors, to build on that success for the future.”

Global Infrastructure Partners bought LCY in 2006 for around £750 million, and a record 4.3 million passengers used the airport last year.

londoncityairport.com

Mark Caswell

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