French airport operator Groupe ADP has acquired exclusive control of Airport International Group (AIG), a concessionary of Queen Alia International Airport (QAIA) located in Amman, Jordan, for a total valuation of $265m.
Infrastructures investment funds Meridiam and IDB Infrastructure Fund II. Edgo also contributed to the transaction, which is part of Groupe ADP’s strategy to design and operate international airports.
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The deal, which was carried out through the group’s wholly-owned subsidiary ADP International, expands the 9.5% stake already owned by the company in AIG and provides 51% ownership of the capital.
Groupe ADP has been operating QAIA since 2007 and helped in strengthening the airport’s performance and growth.
According to the company, an average increase of 6.5% in traffic was observed each year from 2007, while a new terminal was built in 2013 and extended in 2016, reaching 12 million in passenger capacity.
The group intends to boost the air network from Amman, enhance passenger services, improve aviation performance and work towards a sustainable development until its concession term ends in 2032.
QAIA is said to handle 98% of traffic in Jordan and acts as the base for Jordanian Airlines. In 2017, the airport recorded 7.9 million passengers, a 6.8% increase from a year ago.
It is also reported that the airport has seen an 8.5% increase between January and March this year, amounting 1.8 million passengers, when compared to the same period a year ago.
