A CONSORTIUM managed by a leading international investment manager are the new owners of Belfast City Airport.
In a deal first announced in December 2016 a fund managed by 3i Group plc has now taken ownership of the airport from London-based Eiser Global Infrastructure Fund in deal believed to be worth more than £500 million.
The acquisition of Belfast City Airport is part of a wider transaction for the fund to acquire a portfolio of assets, which includes UK gas business East Surrey Pipelines Utilities, Italian waste treatment and disposal company HERAmbiente.
The previous owners bought the airport from Spanish construction firm Ferrovial for £132.5m in 2008.
The change of ownership will have no impact on the day-to-day running of the airport.
Chief executive of Belfast City Airport Brian Ambrose said 3i’s arrival is an "important landmark" for the business.
“We have a stellar airline portfolio, including blue-chip brands such as KLM, Flybe, British Airways and Aer Lingus, and we are confident of continuing to grow our route network and the profitability of the business in years to come.”
The new owner’s arrival came on the same day as the launch of Belfast City Airport’s new route to Reykjavik with Icelandair, which is set to open up more translantic connections for local passengers.
Icelandair had its inaugural flight yesterday on the new three-times weekly service operating all year round between Belfast City Airport and Keflavik International Airport.
The route, which will be operated by sister airline Air Iceland Connect, adds to the existing Easyjet route from Belfast International Airport.
Air Iceland Connect managing director Árni Gunnarsson said the new service would open up transatlantic routes for passengers in the north, with Reykjavik offering connections to 18 destinations in North America, including New York, Boston, Chicago and Toronto.
"I think the split is going to 60 per cent of the traffic connecting (to onward destinations). Around 25 to 30 per cent originating from here (Northern Ireland) and then 10 per cent from Iceland. I think the Canadian destinations will be popular because they are not well-served in general from Ireland."
Mr Gunnarsson believes the new route is a realistic alternative for those who use airports such as London Heathrow or New York's JFK to connect, with the shortest flight path between Europe and North America available.
He said there was strong potential for growth in the future.
"Depending on how the route develops we could increase the frequency to four, five, six , seven days a week."
"If a demand is there we would start by adding more frequency and then using bigger equipment. That would be the logical development of the route," he added.
Chief Executive of Belfast City Airport Brian Ambrose added:
"There has been strong demand for the flights since they were announced in December, with the route offering passengers an extremely convenient connection to a host of destinations in the USA and Canada and we are confident this will continue to grow."
