A consortium of investors has bought London City Airport and pledged to “support the enhancement of facilities”.
Canadian firm Alberta Investment Management Corporation, working with others including the infrastructure investing arm of the Kuwait Investment Authority, signed a deal to acquire the company that owns and operates the central London transport hub.
The consortium – whose members already own Birmingham, Bristol and Belfast International Airports – said in a statement that London City Airport was “a highly attractive infrastructure investment”.
“The airport represents a unique opportunity to invest in an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service,” added the statement.
Passenger numbers at the airport more than doubled in a decade to reach 4.3M in 2015.
A spokesperson for the consortium said: ”London City Airport is a premium infrastructure company, operating in a very attractive market.
“We look forward to working closely with the airport’s strong management team to achieve the business’s full long-term potential. Our investment and support will foster a mutually beneficial relationship between the airport and its airlines, passengers and employees, while ensuring a positive economic impact for all of London and the local community, in particular.”