Heathrow Airport Holdings, managers of one of the biggest airports in the world with 66.3 million passenger traffic handled by October 2023 is set to lose management of the aerodrome to a Saudi Arabian firm.
The Saudi Arabian investors are reportedly considering selling their stakes. The airport, which is the UK’s largest, has been owned primarily by a Spanish infrastructure company for nearly two decades.
Two shareholders it was learnt agreed to purchase a 25% stake in London Heathrow late last month.
Saudi Arabia’s Public Investment Fund (PIF) will acquire a 10% stake, while Ardian, an investment company based in Paris, France, will have 15%.
Ferrovial, a leading infrastructure organization headquartered in Madrid, Spain, confirmed the sale of its stake in LHR to Saudi Arabia’s PIF and Ardian for nearly $3 million on November 29.
Luke Bugeja, the CEO of Ferrovial Airports, commented on the company’s nearly 20 years of partial ownership at the mega hub.
He said,“Over the last 17 years, we have been contributing to Heathrow’s transformation, together with our fellow shareholders, achieving some excellent milestones throughout our long-term role as investors. These include overseeing an investment of 12 billion pounds [$15 billion], expanding its capacity with the construction of Terminal 2, and improving its operational performance. We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe.”
Despite the announcement, Ferrovial said the UK “continues to be a key market” and will remain “committed to delivering value and sustainable growth” for the region. The company holds a 50% share in Aberdeen, Glasgow, and Southampton airports in the UK, 60% at Dalaman Airport in Turkey, and 49% in Terminal 1 at John F. Kennedy International Airport in New York.
Heathrow’s remaining shareholders are sovereign wealth funds from Qatar, China, and Singapore which are unlikely to sell, as well as pension funds from Quebec, Australia, and the UK’s universities Superannuation Scheme, which may sell according to the Times.
