French airports operator Vinci has agreed a £1.27 billion ($1.58 billion) deal to take a 50.01% stake in Edinburgh airport from Global Infrastructure Partners (GIP), expanding its presence in the UK.

Vinci already holds a majority stake in London Gatwick airport – which it also co-owns with GIP –  and wholly owns Belfast International airport.

Generating revenues of almost £6 billion last year, the UK is already the second biggest country for Vinci’s airport operation.

Edinburgh airport (c) Vinci

Source: Vinci Airports

Edinburgh airport handled 14.4 million passengers in 2023

Under the deal announced on 17 April, which the partners expect to complete in the summer, GIP will retain a 49.99% stake in the Scottish site. GIP has been owner of Edinburgh airport since 2012 and the break-up of BAA’s UK airport portfolio.

Edinburgh airport chief executive Gordon Dewar says: “The leadership team – which remains in place — is wholly committed to working with our investors to improve customer service, accelerate our decarbonisation plans and strengthen Scotland’s connectivity with the world, which ultimately drives the country’s international competitiveness and prosperity.”

Edinburgh airport generated revenues of £272 million and an EBITDA margin of 65% in 2023. It handled 14.4 million passengers last year and expects that to reach around 15 million this year.