AMP Capital to buy 49% stake in London Luton Airport
Australian global investment manager AMP Capital is set to buy Ardian’s 49% stake in London Luton Airport.
The airport has announced that AMP Capital’s move will not affect Aena’s 51% majority shareholding and controlling stake.
Ardian acquired its 49% share in the airport in 2013. In the years since then, the company has invested more than £160 million into London Luton in partnership with Aena, the leading airport operator and majority shareholder.
The major transformation plan has seen London Luton undergo a series of upgrades and additions, which has resulted in a boom in passenger numbers. Included in the changes were upgrades to transport links, a terminal redesign and the opening of new shops and restaurants. Premium retailers to open up outlets at the airport include Chanel, Ted Baker and Hugo Boss.
Thanks to this significant investment in the airport, annual passenger numbers have increased rapidly, growing from 9.7 million in 2013 to 15.8 million last year.
Now, London Luton is one of the UK’s fastest growing airports. It hosts 11 airlines and offers passengers a choice of more than 140 short and long-haul destinations around the globe.
Nick Barton, CEO of LLA, said: “Since their investment in 2013 the Aena and Ardian partnership has been instrumental in helping us to transform and grow the airport. We look forward to building on this success with AMP Capital as we continue to develop LLA into a world class airport.”
Andrew Liau, Managing Director of Ardian, added: “This success has been made possible by the hard work of everyone involved with LLA, including the employees, our industrial partner Aena, and an extended list of important stakeholders. AMP Capital will be an excellent partner for them and LLA as the airport continues its growth ambitions.”
José Manuel Fernández Bosch, Director General for Non-Regulated Business of Aena: “As London Luton Airport’s main shareholder we remain fully committed to the airport’s growth and development in cooperation with stakeholders and employees.”