Aena has signed a contract to purchase 51% of the new holding company which owns and manages 100% of Leeds Bradford Airport and 49% of Newcastle Airport for £270 million(approximately €309 million). With this transaction, Aena is reinforcing its position in the United Kingdom, where it already manages London Luton Airport with a 51% stake. Leeds Bradford and Newcastle airports recorded around 9.5 million passengers last year, which, when added to Luton’s 17 million passengers, gives a total of 26.5 million passengers in the United Kingdom.
InfraBridge, which is the seller, will hold 49% of the new holding company and is also the owner of the other 49% of Luton Airport, consolidates itself as Aena's strategic partner in the United Kingdom with this transaction.
Aena's Chairman and CEO, Maurici Lucena, describes this international transaction as "a significant step for Aena in countries with enormous potential such as the UK, where we already have a great deal of experience. Aena is looking to selectively grow in the areas where we are already present, so as to create value for public and private shareholders".
The transaction is subject to the usual conditions for its finalisation, including all regulatory approvals. It shall be completed once all these conditions have been met. It is expected that the transaction shall be completed in the second quarter of 2026.
Leeds Bradford Airport
Leeds Bradford (LBA) is a freehold and unregulated airport, currently owned by InfraBridge, and located in north-central England, in the Yorkshire and Humber region, which has a population of 5.6 million inhabitants.
Leeds is the fourth largest city in the UK (829,000 inhabitants) and the second largest metropolitan region outside London (after Birmingham). The airport benefits from strong road connectivity, offering easy access to key motorways such as the M1 and M62. The catchment area is estimated c.13.5 million passenger journeys per annum.
With most of its traffic headed to European destinations, it handled 4.3 million passengers in its last financial year. Revenues for the 2025 financial year (1 April 2024 to 31 March 2025) were £56.5 million, with highly internalised services. EBITDA was £20.6 million, with a margin of 36.4%.
Leeds Bradford is currently implementing an investment plan named "LBA:REGEN", which seeks to transform the passenger experience and improve the positioning of the airport in its catchment area. The plan consists of three phases: the first has already been completed last summer with the construction of the terminal extension; the second which is currently underway, consists of renovating the old terminal, scheduled for completion by the end of 2026, and finally, the third phase, which includes the construction of new parking stands in blocks, to be materialised depending on traffic requirements.
The airport has a strong environmental commitment. It possesses Level 3 certification of the Airport Carbon Accreditation Scheme, with a commitment to achieve net zero by 2030.
Newcastle Airport
Newcastle is also a freehold and unregulated airport, located in the north-east of England. Its catchment area is home to 3 million people, serving as the main airport gateway in the region.
The company that owns and operates the airport is currently co-controlled by InfraBridge (49%) and LA7 (51%), the group of seven local councils of the region served by the airport.
With most of its traffic headed to European destinations, it handled 5.2 million passengers in 2024. That same year, its revenues were £89.5m and EBITDA was £50.2m, with a margin of 56%.
The airport has adjacent land available for new development, including expansion of the car park, solar farm or ancillary services.
Its environmental commitment translates into a 3 MW photovoltaic plant and Level 4 certification of the Airport Carbon Accreditation Scheme with a commitment to achieve net zero by 2035.
Equity value for 51% of the capital. Subject to possible adjustments prior to completion of the transaction.
