London Gatwick has announced a new chapter in its ownership, with VINCI Airports completing the purchase of a 50.01% stake in the airport. Global Infrastructure Partners (GIP) continues to manage the remaining 49.99% interest in Gatwick.
The new partnership promises continued investment to put passengers at the heart of Gatwick’s future plans. Indeed, there is a strong focus on quality of service and programme management.
Michael McGhee, Partner, Global Infrastructure Partners; Stewart Wingate, Chief Executive Officer, Gatwick; and Nicolas Notebaert, CEO VINCI Concessions and President, VINCI Airports.
Now part of VINCI Airports’ 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, Gatwick will also share best practice with VINCI Airports as the company continues to pursue its operational improvement strategy.
“This partnership marks the beginning of a very exciting future for London Gatwick and VINCI Airports,” says Nicolas Notebaert, CEO VINCI Concessions and President, 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.”
Completion of the transaction is the ideal opportunity for Gatwick’s shareholders to express their shared vision for the future of the airport and to announce the evolution of Gatwick’s governance based on continuity. Sir David Higgins, Stewart Wingate and Nick Dunn remain respectively Chairman, CEO and CFO of the airport, and are joined by Cédric Laurier, from VINCI Airports, as CTO (Chief Technical Officer).
The airport’s ambitious plans for the future remain, with a further £1.1 billion (€1.25bn) Capital Investment Programme set to deliver a range of passenger improvements by 2023.
“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,” comments 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.”
Strong levels of investment in airport facilities have seen more than £2 billion (€2.3bn) spent on improving Gatwick since 2009, including the world’s largest self-service bag drop in the North Terminal, a brand-new Pier 1, and a state-of-the-art security area in both terminals, which 95% of passengers pass through in less than five minutes.
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.
