GIP takes over Edinburgh airport
Scotland's busiest airport has formally changed hands following an £807.2 million deal.Global Infrastructure Partners (GIP) took ownership of Edinburgh airport on Friday after buying it from BAA in an arrangement announced in April.
BAA was forced to sell it after the Competition Commission ruled that it must sell either Glasgow or Edinburgh airports.
Gordon Dewar, a former managing director of the airport, has been appointed chief executive officer (CEO) and will rejoin Edinburgh airport in the summer, until when the airport's current managing director Jim O'Sullivan will continue in his role.
Mr Dewar said: "Edinburgh is my home city and I am excited to be returning to one of the most important jobs in the capital. The challenge of leading the airport and the team into a new era of competition and growth is an irresistible one, and very different to the role I once played in BAA.
"Edinburgh airport's future, its plans and its identity will all be shaped in Edinburgh, and our decisions will only be influenced by what is good for Edinburgh airport and the city and country we serve."
GIP is an independent infrastructure fund manager. It took over London City in 2006 and then bought Gatwick from BAA for £1.51 billion in 2009.
Sir John Elvidge has become chairman of Edinburgh airport. He said the deal represents the opening of a "new, exciting chapter in the history of Scotland's capital city airport".
Colin Keir, SNP MSP for Edinburgh Western, said: "This news has to be welcomed as it relieves any uncertainty surrounding the ownership of the airport's future. Competitive air links between Edinburgh and the airports across the UK and the world are crucial for our city's economy and business community."
"I understand GIP made improvements at Gatwick airport since they took it over in 2009 including dropping average security queue waiting times of less than two minutes and a reduction in complaints - I will be making inquiries to see if they will be making the same customer-focused commitment to Edinburgh airport."
"Edinburgh airport's future, its plans and its identity will all be shaped in Edinburgh, and our decisions will only be influenced by what is good for Edinburgh airport and the city and country we serve."
GIP is an independent infrastructure fund manager. It took over London City in 2006 and then bought Gatwick from BAA for £1.51 billion in 2009.
Sir John Elvidge has become chairman of Edinburgh airport. He said the deal represents the opening of a "new, exciting chapter in the history of Scotland's capital city airport".
Colin Keir, SNP MSP for Edinburgh Western, said: "This news has to be welcomed as it relieves any uncertainty surrounding the ownership of the airport's future. Competitive air links between Edinburgh and the airports across the UK and the world are crucial for our city's economy and business community."
"I understand GIP made improvements at Gatwick airport since they took it over in 2009 including dropping average security queue waiting times of less than two minutes and a reduction in complaints - I will be making inquiries to see if they will be making the same customer-focused commitment to Edinburgh airport."
© 2013 Press Association