04 December 2009
The new owners of Gatwick Airport, Global Infrastructure Partners, promised to kick-start a new era of competition between London’s airports and pledged more efficient operations and a better passenger experience following completion of the acquisition.
GIP is bringing a transition team to support Gatwick’s management, to apply modern process management best practice to improve Gatwick’s operations for airlines and deliver better services for passengers.
Check-in, security and better-focused investment are among the first priorities identified by the new owners, who pledge to make Gatwick the airport of choice for passengers in London and the South East.
Sir David Rowlands, the newly-appointed Chairman of Gatwick’s Board, said: “Gatwick is now a major independent airport company and from today, for the first time ever, it is competing directly with Heathrow, Stansted and Luton, as well as with our other airport, London City, in a competitive London airports market.
“Gatwick will be competing vigorously against all London airports for point-to-point, short-haul and long-haul routes and passengers.
“Our plan is to gain a competitive edge by modernising Gatwick, providing more efficient operations for airlines and a better experience for passengers and to do this as cost effectively as possible.
“We intend Gatwick to become the airport of choice for airlines and passengers in our target market.”
GIP also announced the appointment of a new Chief Executive Officer for Gatwick, Stewart Wingate, who takes over immediately from managing director Andy Flower, who is leaving the company. Mr Wingate was previously Managing Director at Stansted, Chief Executive Officer at Budapest Airport and a former General Manager at Black & Decker.
Mr Wingate said: “Our immediate priority is to get Gatwick’s processes right, especially security and check-in. We are also reviewing the investment programme to ensure that every pound Gatwick spends is focused on delivering for airlines and passengers.
“It will take some time for our changes to take effect, but within months passengers will begin to feel that their journey through Gatwick is getting easier, and in a year or so they will start to notice physical improvements too. Gatwick will become the airport of choice, setting the benchmark for service in London.
“We will focus on improving efficiency as it is critical that Gatwick improves on its position as one of the most cost-competitive primary airports in Europe.”
Gatwick Airport Limited (Gatwick) is the company licensed to operate Gatwick Airport by the Civil Aviation Authority. Gatwick is wholly-owned by Ivy Bidco Limited (Ivy), a company formed to undertake the acquisition of Gatwick. Ivy is ultimately controlled by funds managed by Global Infrastructure Management, LLC, part of Global Infrastructure Partners (GIP).
GIP, a $5.64 billion independent investment fund, invests worldwide in infrastructure assets. It targets investments in air transport infrastructure, ports, freight rail, power and utilities, natural resources infrastructure, water distribution and treatment, and waste management. GIP has offices in London, New York, Hong Kong and Sydney and an operations team in Stamford, Connecticut.
GIP has a 75% ownership interest in London City Airport. Its other UK investments are Biffa Limited, a waste management company and Great Yarmouth Port Company. GIP also has investments in other infrastructure businesses in the United States, India and Argentina.
