London Gatwick (LGW) has a new majority owner after VINCI Airports completed the purchase of a 50.01 per cent stake in the airport. Global Infrastructure Partners (GIP) will continue to manage the remaining 49.99 per cent interest in Gatwick.
VINCI Airports, a global private airport operator, will bring its expertise to Gatwick including a strong focus on quality of service and programme management, the airport says.
“Today is the start of a new chapter for Gatwick, with new owners and further investment enabling the airport to continue on its successful journey,” says Stewart Wingate, chief executive officer, Gatwick. “The management team and I will remain focused on delivering exceptional service to our passengers and to developing longer-term plans to grow our airport.”
Now part of a global network of 46 airports in 12 countries, Gatwick teams will have access to broader opportunities particularly in international career development and in-house training. As the world’s most efficient single runway airport, according to Gatwick, it will also share best practice with VINCI Airports as the company continues to pursue its operational improvement strategy.
The airport’s ambitious plans for the future remain, with a further £1.1 billion (EUR 1.27 billion) Capital Investment Programme (CIP) set to deliver a range of passenger improvements by 2023.
“This partnership marks the beginning of a very exciting future for London Gatwick and VINCI Airports,” says Nicolas Notebaert, CEO of VINCI Concessions and president of VINCI Airports.
“Applying our joint skills will add significant value to both VINCI Airports and London Gatwick Airport and benefit all our stakeholders, notably airlines and passengers. Combining our expertise will further improve our operational excellence and sustain our shared vision of putting passengers’ satisfaction at the heart of everything we do.”
Gatwick has achieved success in a number of areas, including growing its long haul network, with over 60 long haul routes now available across Asia, North and South America and beyond. Gatwick flies to more destinations than any other UK airport and recent route launches include Shanghai, Rio De Janeiro and San Francisco.
“The GIP-VINCI partnership is focused on continuing the transformation of the airport. VINCI’s global airport expertise, coupled with GIP’s intimate knowledge of Gatwick and the UK market, offer a unique and complementary world-class airport capability to carry on delivering exceptional performance,” adds Michael McGhee, GIP Partner.
The airport also continues to look to the future and recently consulted on its Draft Master Plan for the next 15 years, looking at how Gatwick could make best use of its existing infrastructure and, notably, its existing standby runway. The final master plan is due to be published later this year.