Edinburgh Airport – VINCI to take a controlling interest; becomes second largest UK airport operator

Quietly and stealthily, the French airports operator VINCI - with more than 70 assets worldwide, the leading private sector operator - has been building its portfolio in the UK, while all eyes have been on its acquisitions elsewhere.

Having already acquired Belfast International (100%) in 2018 and a majority stake in London Gatwick Airport the following year, VINCI has now moved to take a similar position to that at Gatwick by acquiring 50.01% of the equity at Edinburgh Airport, which serves the Scottish capital city and the second most visited tourist city in the UK.

The transaction should be completed in the summer of 2024, at which time VINCI would become the second largest airport operator in the UK by passenger numbers.

At the same time GIP, the majority shareholder at Edinburgh now, continues the downscaling of its airport activities...except where they concern VINCI, which is becoming the de facto operating partner of the funds manager (which has recently been wrapped up in the giant BlackRock asset manager).

But there are other factors to consider while the deal is secured, such as the position of the minority investors at Edinburgh, which represent major Australian pension funds.

And it does pose the question of whether VINCI might be tempted to go for a 'full house' of UK capital city airports by taking a look at least at what Cardiff Airport has to offer.