Vinci Airports Acquires Majority Stake in Gatwick Airport

The amount paid by Vinci may change slightly between now and the conclusion of the deal, sometime in the first quarter of 2019.

“Just a few months ago we would not even have dreamed of being able to acquire an unlimited licence in the London airports system for less than 20 times core earnings,” stressed Vinci Airports President Nicholas Notebaert, alluding to Brexit uncertainty as a factor in the deal price.

For the financial year up to March 31st 2018, Gatwick airport posted turnover of £764 million and net income of £411 million.  

Situated a 30-minute train ride south of London, Gatwick Airport is the 8th biggest in Europe and alongside Heathrow, Stanstead, Luton and London City, is part of the world’s busiest airport system. Gatwick receives 46 million passengers per year and provides flights to 228 destinations in 74 countries. The airport is a major hub for British Airways and Easyjet.

“The whole Vinci Airports network will benefit from Gatwick airport’s world-class management and operational excellence, which has allowed it to deliver strong and steady growth in a very constrained environment. As Gatwick’s new industrial partner, Vinci Airports will support and encourage growth of traffic, operational efficiency and leverage its international expertise in the development of commercial activities to further improve passenger satisfaction and experience,” added Notebaert.