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Aberdeen International Airport, along with its Glasgow and Southampton counterparts, has been sold in a deal worth £1.53billion.

AviAlliance has announced it had acquired AGS Airports from Ferrovial and Macquarie - and is already eyeing up plans to expand route networks and boost passenger experience.

The acquisition, by one of the world’s leading private airport investors and operators, is subject to regulatory approvals and is expected to be completed in Q1 2025.

Gerhard Schroeder, managing director of AviAlliance, said: “Aberdeen, Glasgow and Southampton airports provide vital connectivity for communities in Scotland and the South-east of England.

"As a seasoned airport investor and manager with in-depth industry expertise, AviAlliance will enable each airport to realize their full potential.

"We are committed to supporting the airports over the long term to expand their route networks, further improve the passenger experience and implement the airports’ sustainability strategy.”

AviAlliance is the wholly-owned airports platform of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors.

Sandiren Curthan, managing director and global head of infrastructure investments at PSP Investments, said: “PSP Investments is a significant investor across several sectors in Scotland and more broadly, the United Kingdom, with over £10billion of investments in the United Kingdom.

"Our PSP Infrastructure strategy consists of investing in sectors where PSP Investments has strong expertise and a track record of delivering value for our beneficiaries. Airports is a sector which fits that strategy given AviAlliance’s deep operational expertise.

"We are delighted to add AGS Airports to our infrastructure portfolio and look forward to working with our key stakeholders to improve services to the communities in which AGS Airports operate, recognising the critical role that these airports play in supporting economic growth in Scotland and England.”

Together, Aberdeen, Glasgow and Southampton airports have almost 11million passengers annually, contribute around £2billion in gross value added to the UK economy each year and support over 30,000 jobs.

AGS Airports was established as a 50:50 joint-venture between Macquarie and Ferrovial following their 2014 acquisition of the airport portfolio from Heathrow Airport Holdings Limited.

AGS Airports invested £20million increasing the terminal space at Aberdeen International Airport by 50% to accommodate enhanced security facilities, an increased retail offering, new areas for baggage reclaims, expanded business lounges, and new immigration and arrivals facilities.

Martin Bradley, head of infrastructure for Macquarie Asset Management in EMEA, said: “Since 2014, we have worked in partnership with Ferrovial to support around £250 million of investment by AGS Airports aimed at delivering a better experience for passengers travelling via Aberdeen, Glasgow and Southampton airports.

"Following this decade of investment, we are pleased to be passing the baton to AviAlliance to unlock the next phase of growth.”

Andy Cliffe, chief executive officer of AGS Airports, said: "Over the past 10 years, Macquarie and Ferrovial have played a central role in unlocking our full potential.

"Their close partnership with the teams across our three airports ensured we had the support to invest in our passenger offering while improving our operations. We are grateful for their close stewardship and look forward to continuing to develop our services and beneficial impact on passengers and communities across the regions of Aberdeen, Glasgow and Southampton.”

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