AviAlliance, a wholly-owned subsidiary of PSP Investments, one of Canada’s largest pension investors, is a long-standing investor in UK. Its acquisition of AGS Airports from Ferrovial and Macquarie had an enterprise value of £1.53bn.
Following the acquisition, AGS Airports will become part of AviAlliance, joining the company’s global airport network, which also includes stakes in Athens, Düsseldorf, Hamburg, and San Juan (Puerto Rico) airports.
AviAlliance has appointed Kam Jandu CEO of AGS Airports with immediate effect. Jandu brings three decades of experience in senior roles in the aviation and travel industries, having most recently served as CEO of Budapest Airport. He succeeds Andy Cliffe, who departs AGS Airports by mutual consent, having made a major contribution to the business during his tenure.
Gerhard Schroeder, managing director of AviAlliance, said: “We are delighted to formally welcome AGS Airports into the AviAlliance family and look forward to developing a constructive and long-lasting partnership with all three airports. Aberdeen, Glasgow and Southampton airports 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 superior passenger experience from across our world-class airport portfolio.
“I also wish to thank Andy for his leadership of AGS Airports which has positioned the airports it operates for strong growth and look forward to working with Kam on the execution of our vision.”
