AviAlliance appoints new CEO for AGS Airports as acquisition completes

Airport investor and operator, AviAlliance, has completed its acquisition of AGS Airports, which operates Aberdeen, Glasgow and Southampton airports

AGS Airports

Airport investor and operator, AviAlliance, has completed its acquisition of AGS Airports, which operates Aberdeen, Glasgow and Southampton airports in the UK, appointing former Budapest Airport CEO, Kandu Jam, as the new CEO of the airport group.

The deal valued at £1.53 billion completed on 28 January having satisfied all the relevant regulatory approvals. The three UK airports will now join AviAlliance’s portfolio of air transport hubs, which includes stakes in Athens, Dusseldorf, Hamburg and San Juan (Puerto Rico).

Commenting on the completed acquisition, Gerhard Schroeder, managing director at AviAlliance, said: “We look forward to developing a constructive and long-lasting partnership with all three airports. Aberdeen, Glasgow and Southampton are excellent assets with strong growth potential that will benefit significantly from the forward-thinking exchange of expertise in growing connectivity, expanding passenger numbers and delivering a superior passenger experience.”

CEO appointment

The completed acquisition has also coincided with the appointment of Kam Jandu as CEO of AGS Airports. Formerly CEO of Budapest Airport in Hungary, Jandu brings 30 years of experience to his new role, as he succeeds Andy Cliffe who said he will “look back fondly” on his time as CEO and will work closely with Jandu and AviAlliance during the transition period.

Meanwhile, Jandu said the three airports have an exciting phase of growth ahead as he explained, “Aberdeen, Glasgow and Southampton airports offer unique propositions and catchment areas which present growth opportunities for airlines and other business partners alike.”

Airport investment opportunities

The acquisition is part of a wave of airport investment opportunities in the UK. Stakes in London City, Birmingham and Bristol are also up for grabs, while Gloucestershire Airport is also up for sale. Meanwhile, Ardian completed its acquisition of a 22.6% stake in London Heathrow at the end of last year. Prospects also look promising for Doncaster Sheffield Airport, which closed in 2002 after its owner, Peel Group, deemed the site no longer financially viable. However, in her speech on Wednesday 29 January, the Chancellor of the Exchequer, Rachel Reeves, reaffirmed that the government backed plans to reopen and “recreate South Yorkshire Airport City as a thriving regional airport.”

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