Paine Field: U.S. airport receives boost from major global investor

Propeller Airports has announced that Global Infrastructure Partners (GIP) has become an investor in the Paine Field Passenger Terminal at Everett Paine Field Airport (Washington). GIP is managing the investment on behalf of the Washington State Investment Board (WSIB).

This is a significant departure for GIP, a U.S. and UK-based entity that manages infrastructure investment funds across multiple sectors, including transport, with approximately USD50 billion of assets under management. In its time actively involved in the air transport business, GIP majority-owned and managed the downtown London City Airport in the UK, which it sold in 2016, and until Mar-2019 it was also the majority investor in London Gatwick Airport.

Paine Field is a modern technically equipped terminal and location in an economically fast growing region. Seattle-Tacoma Airport is facing up to potential capacity issues, although it is combating that scenario with a USD2 billion infrastructure investment.