A French company is to buy a 50.01% stake in Gatwick Airport for £2.9 billion.
French operator Vinci Airports is part of infrastructure group Vinci, which took Airports Worldwide earlier this year, including Belfast International and stakes in 12 US airports.
The other 49.99% stake in Gatwick will be managed by current owners Global Infrastructure Partners (GIP).
The deal is set to complete in the first half of 2019 and will make Gatwick the largest airport in Vinci’s network.
The group said there was opportunity for further capacity development with ‘an innovative potential scheme to further utilise its standby runway’.
It said Gatwick’s highly experienced management team will continue to manage the business.
