TWO of Scotland's largest airports have been sold to a foreign consortium in a £1 billion deal.
Glasgow and Aberdeen International Airports, which are used by 11 million passengers every year between them, have been bought from Heathrow Airport Holdings Limited as part of a package that also includes Southampton.
A consortium of Spanish infrastructure firm Ferrovial and a fund managed by the Australian Macquarie Group is expected to complete the purchase of the airports by January.
The firms have promised to invest in the airports to improve passenger experience and increase routes. Heathrow Airport Holdings, formerly BAA, said the sale would allow it to concentrate on winning support for expanding Heathrow, which is now its only airport.
Amanda McMillan, managing director of Glasgow Airport, said the announcement was a landmark day for one of the county's busiest transport hubs.
She said: "We have benefited from considerable investment in recent years and have achieved a great deal of success in securing new routes and increasing passenger numbers.
"Together with my team, I am looking forward to working with Ferrovial and Macquarie to further develop our airport and ensure it continues to deliver for Glasgow and Scotland."
The deal, the value of which includes cash as well as debt assumed by the buyer, is worth £1.05 billion in total.
Councillor Gordon Matheson, of Glasgow City Council, said: "I am encouraged to see this deal is backed with a wealth of experience in the air industry and public infrastructure. My council will continue to work in close partnership with our airport to ensure it meets the needs of local business and leisure travellers."
Councillor Mark Macmillan, leader of Renfrewshire Council, said: "This will give the airport security of ownership and more certainty for the future."
Stuart Patrick, chief executive of Glasgow Chamber of Commerce, said he was looking forward to hearing the new owner's plans.
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