Infrastructure
| Sector | Infrastructure |
| Sub-sector | Transport |
| Location | United Kingdom |
In 2014, Macquarie Asset Management partnered with Ferrovial to create AGS Airports – uniting the three airports under one group, with the aim of advancing their contribution to the UK’s regional development, enhancing the passenger experience, and delivering increased capacity.
In 2015, construction commenced on a landmark four-year project to transform facilities for passengers at Aberdeen International Airport – the airport’s largest investment in capacity since the current terminal opened in 1977.1
In 2019, significant investment was allocated to enhance access and improve the experience for users of Glasgow Airport.
Following the collapse of Flybe in 2020 and the subsequent impact of the COVID-19 pandemic on the aviation industry, Macquarie worked with AGS Airports to identify solutions that would secure Southampton Airport’s ongoing viability as a regional transport hub.
Outcome
During the COVID-19 pandemic, when UK air arrivals fell by 89 per cent between April 2020 to January 2024, Macquarie and Ferrovial provided vital support to ensure the ongoing resilience of the airports group, despite the unprecedented challenges posed to its day-to-day operations.3
The airports now serve more than 10.8 million passengers annually,4 contributing approximately £2 billion in Gross Value Added to the UK economy per year, and support more than 30,000 jobs across a sophisticated supply chain.5
In January 2025, a Macquarie-managed fund Asset Management (Macquarie) and Ferrovial sold AGS Airports.6
AGS Airports connects communities in Scotland and South East England to the world. Its airports underpin the UK’s regional development, and we’re committed to providing them with the resources they need to grow and adapt to the future of aviation.”
Martin Bradley
Head of Infrastructure EMEA
Macquarie Asset Management
