AviAlliance, a wholly-owned subsidiary of Canadian PSP Investments, has completed its takeover of AGS Airports after receiving the necessary regulatory approval.
AGS Airports owns Aberdeen, Glasgow and Southampton airports which are all now part of the AviAlliance group which also has stakes in Athens, Dusseldorf, Hamburg, and San Juan Puerto Rico airports.
Initially, the airports will continue to operate under AGS Airports and Kam Jandu has been appointed CEO of AGS Airports with immediate effect replacing current CEO Andy Cliffe who is leaving by mutual consent.
Speaking about the takeover Gerhard Schroeder, Managing Director of AviAlliance, said: “We are delighted to formally welcome AGS Airports into the AviAlliance family and look forward to developing a constructive and long-lasting partnership with all three airports. Aberdeen, Glasgow and Southampton airports are excellent assets with strong growth potential that will benefit significantly from the forward-thinking exchange of expertise in growing connectivity, expanding passenger numbers and delivering superior passenger experience from across our world-class airport portfolio.
“I also wish to thank Andy for his leadership of AGS Airports which has positioned the airports it operates for strong growth and look forward to working with Kam on the execution of our vision.”
Andy Cliffe, outgoing CEO of AGS Airports, added: “It has been my pleasure to lead AGS Airports for the past years as we successfully transformed the business into the world-class airport operator it is today focused on delivering the enormous growth potential of the group.
“I will look back fondly on my time as CEO and I look forward to working closely with Kam and AviAlliance during this transition period and wish the team every success as they lead this outstanding business into its next chapter.”
AviAlliance owners, Public Sector Pension Investment Board (PSP Investments), is one of Canada’s largest pension investors with C$264.9 billion of net assets under management as of 31 March 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments.
