Macquarie ups stake to become majority owner of London City Airport
An asset management giant has become the majority owner of London City Airport after buying out some of its fellow shareholders.
Macquarie Asset Management has increased its stake in the transport airport to 75 per cent after acquiring a further 50 per cent equity stake from Alberta Investment Management Corporation and OMERS.
The move comes after Macquarie first acquired a 25 per cent stake in London City Airport
That deal also saw it take stakes in Bristol and Birmingham airports as well.
‘Britain’s airports are a key driver of economic growth’
Alison FitzGerald, chief executive at London City Airport, said: “London City Airport is already the airport everyone loves, recognised for delivering excellence in customer service alongside unrivalled speed and convenience.
“This further investment from Macquarie Asset Management is a strong endorsement of our strategy to introduce new larger, quieter and cleaner aircraft, deliver more route choices for our customers, benefit our airline partners, and contribute even more to the UK economy.”
Sara Sulaiman, a managing director at Macquarie Asset Management in EMEA, added: “Our additional investment in London City Airport underscores our commitment to the UK’s aviation sector.
“Britain’s airports are a key driver of economic growth and demand for air travel continues to increase year-on-year.
“We look forward to working in partnership with London City Airport’s management team and Wren House Infrastructure, who will remain as shareholder, to support the airport in meeting future demand as it increases the number of passengers, launches new routes to destinations across the UK and Europe, and further enhances the experience for passengers.”
Profit takes off at London City Airport
The news comes after Morning Wire reported that profit at the airport almost doubled in 2024 thanks to a rise in passenger numbers.
For its latest financial year, the airport’s pre-tax profit increased from £6.6m to £11.8m.
Accounts filed with Companies House also show its turnover rose from £102.6m to £115m.
Passenger traffic increased by 4.6 per cent year on year with 3.6m people traveling through the airport.
Its on time performance also increased by two per cent to 73 per cent.
Almost a year ago, the government granted the airport permission to expand capacity significantly.