3i takes ownership of Belfast City Airport
A fund managed by 3i Group plc (“3i”) has today taken ownership of George Best Belfast City Airport. 3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its head office is based in London and its core investment markets are northern Europe and North America.
The acquisition was first announced in December 2016 as part of a wider transaction for the fund to acquire a portfolio of assets, including Belfast City Airport, owned by the EISER Global Infrastructure Fund. That transaction was subject to a number of conditions, including approval from the European Commission under the EU Merger Regulation, which have now been achieved. The EISER Global Infrastructure Fund has owned the airport company since 2008.
The new owner’s arrival comes on the same day as the launch of Belfast City Airport’s new route to Reykjavik with Icelandair, which will open up connections to North America.
Brian Ambrose, Chief Executive of Belfast City Airport, said:
“3i’s arrival is another important landmark in what has been an exciting period of expansion for the business.
“We have a stellar airline portfolio, including blue-chip brands such as KLM, Flybe, British Airways and Aer Lingus, and we are confident of continuing to grow our route network and the profitability of the business in years to come.”