Edinburgh Airport owners pick banks to fly with £2.5bn sale

The owners of Edinburgh Airport have chosen bankers to launch an auction next year that could fetch £2.5bn.

Global Infrastructure Partners (GIP) has hired HSBC and JP Morgan to orchestrate a sale of the Scottish capital’s aviation hub, Sky News has learned.

The process, which is expected to start sometime in the first half of 2024, will reflect the industry’s post-Covid recovery and is expected to attract interest from infrastructure investors from around the world.

GIP has owned Edinburgh Airport since 2012, when it bought it from BAA, which at the time was the FTSE-100 airport infrastructure group Heathrow.

GIP is said to have explored a sale in 2016 but was put off by jittery investment linked to the Brexit vote that year.

Shares in Britain’s busiest airport have since changed hands on a relatively frequent basis, with the Saudi Public Investment Fund (PIF) and French investor Ardian acquiring a significant stake last month.

Reports have suggested that PIF wants to acquire the Heathrow interests from other small shareholders and eventually end up with a controlling stake.

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GIP also previously owned Gatwick, which is now French-controlled, while Britain’s other major airports are also owned by overseas investors.

Aberdeen, Glasgow and Southampton airports are part of the same group, called AGS, whose owners are also expected to start a sale next year.

GIP declined to comment.

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