GIP takes over Edinburgh Airport

 

Scotland's busiest airport has formally changed hands following an £807.2 million deal.

Global Infrastructure Partners (GIP) today took ownership of Edinburgh airport 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).

He is currently CEO of Bahrain international airport and will rejoin Edinburgh airport in the summer when free from his current commitments, with the airport's current managing director Jim O'Sullivan continuing in his role until then.

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.

Michael McGhee, the GIP partner who led the acquisition of Edinburgh airport, said: "Gordon is an outstanding airport executive with relevant experience of Edinburgh airport.

"We are pleased to have secured his return and look forward to supporting him and his team as they begin the important job of establishing Edinburgh airport as a more dynamic, competitive player in the global aviation industry.

"It is important to acknowledge the important role played by current airport managing director Jim O'Sullivan, who has steered his team through the sale process with the highest levels of professionalism and focus.

"He will leave Edinburgh airport in good shape, and with our best wishes."

Sir John Elvidge has become chairman of Edinburgh airport.

He said today represents the opening of a "new, exciting chapter in the history of Scotland's capital city airport".

He added: "We don't expect to change overnight but we have an excellent, supportive owner and a world-class management team; each of us is determined to raise Scotland's profile around the world, connect Edinburgh with more destinations and provide passengers with a great experience and more choice.

"The hard work starts today."

PA

Arts and Entertainment
Kirk Cameron is begging his Facebook fans to give him positive reviews
film
Sport
premier leagueMatch report: Arsenal 1 Man United 2
Arts and Entertainment
Jason goes on a special mission for the queen
tvReview: Everyone loves a CGI Cyclops and the BBC's Saturday night charmer is getting epic
Sport
Jonny May scores for England
rugby unionEngland 28 Samoa 9: Wing scores twice to help England record their first win in six
PROMOTED VIDEO
News
ebooksNow available in paperback
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Reach Volunteering: Trustee – PR& Marketing, Social Care, Commercial skills

Voluntary Only - Expenses Reimbursed: Reach Volunteering: Age Concern Slough a...

Reach Volunteering: Charity Treasurer

Voluntary Only - Expenses Reimbursed: Reach Volunteering: Crossroads Care is s...

SThree: Trainee Recruitment Consultant - Soho

£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...

Ampersand Consulting LLP: Markit EDM (CADIS) Developer

£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...

Day In a Page

Terry Venables: Wayne Rooney is roaring again and the world knows that England are back

Terry Venables column

Wayne Rooney is roaring again and the world knows that England are back
Michael Calvin: Abject leadership is allowing football’s age-old sores to fester

Abject leadership is allowing football’s age-old sores to fester

Those at the top are allowing the same issues to go unchallenged, says Michael Calvin
Four years of excruciating seizures caused by the 1cm tapeworm found burrowing through a man's brain

You know that headache you’ve got?

Four years of excruciating seizures caused by the 1cm tapeworm found burrowing through a man's brain
Travelling to work by scooter is faster than walking and less sweaty than cycling, so why aren’t we all doing it?

Scoot commute

Travelling to work by scooter is faster than walking and less sweaty than cycling, so why aren’t we all doing it?
Paul Robeson: The story of how an American icon was driven to death to be told in film

The Paul Robeson story

How an American icon was driven to death to be told in film
10 best satellite navigation systems

Never get lost again: 10 best satellite navigation systems

Keep your vehicle going in the right direction with a clever device
Paul Scholes column: England must learn to keep possession and dictate games before they are exposed by the likes of Germany and Brazil

Paul Scholes column

England must learn to keep possession and dictate games before they are exposed by the likes of Germany and Brazil
Michael Dawson: I’ll thank Spurs after we win says defender as he prepares to return with Hull

Michael Dawson: I’ll thank Spurs after we win

Hull defender faces his struggling former club on Sunday ready to show what they are missing. But he says he will always be grateful to Tottenham
Frank Warren column: Dr Wu has big plans for the professionals yet he should stick to the amateur game

Frank Warren column

Dr Wu has big plans for the professionals yet he should stick to the amateur game
Synagogue attack: Fear unites both sides of Jerusalem as minister warns restoring quiet could take 'months'

Terror unites Jerusalem after synagogue attack

Rising violence and increased police patrols have left residents of all faiths looking over their shoulders
Medecins sans Frontieres: The Ebola crisis has them in the headlines, but their work goes far beyond West Africa

'How do you carry on? You have to...'

The Ebola crisis has Medecins sans Frontieres in the headlines, but their work goes far beyond West Africa
Isis extends its deadly reach with suicide bombing in Kurdish capital

Isis extends its deadly reach with suicide bombing in Kurdish capital

Residents in what was Iraq’s safest city fear an increase in jihadist attacks, reports Patrick Cockburn
Underwater photography competition winners 2014 - in pictures

'Mysterious and inviting' shot of diver wins photography competition

Stunning image of cenote in Mexico takes top prize
Sir John Major: Negative West End portrayals of politicians put people off voting

Sir John Major hits out at theatres

Negative West End portrayals of politicians put people off voting
Kicking Barbie's butt: How the growth of 3D printing enabled me to make an army of custom-made figurines

Kicking Barbie's butt

How the growth of 3D printing enabled toy-designer to make an army of custom-made figurines