AGS secures £745m refinancing package
Image courtesy AGS
The refinancing strengthens AGS’ financial foundation with significant capital investment plans already underway, including terminal upgrades, airfield infrastructure improvements and energy efficiency initiatives across the three airports. This refinancing ensures the group is well positioned to deliver these enhancements and meet rising passenger demand.
AIB joined the lender group through participation in a series of primary and secondary market transactions. AIB’s participation underscores the bank’s commitment to supporting high quality infrastructure assets across the UK and Ireland, particularly those that play a vital role in connecting regions, enabling trade and supporting local economies. AGS supports more than 30,000 jobs and generates over £2 billion in Gross Value Added annually – demonstrating the strategic importance of the business to the economies of Scotland and England, and the wider UK economy at large.
A key focus of the refinancing is enabling AGS Airports’ ambitious sustainability agenda, including its commitment to achieve net zero direct emissions by 2035. Planned investments in more efficient terminal infrastructure, upgraded airfields, and energy reducing technologies align closely with AIB’s own climate focused lending strategy and its dedication to supporting customers in the transition to a low carbon future.
AIB’s UK Infrastructure team maintains a longstanding relationship with the airport sector, recognising its essential economic role and the importance of helping high impact businesses invest for the future. By supporting AGS’s refinancing, AIB reinforces its appetite for well governed, strategically important transport infrastructure that demonstrates strong ESG alignment and clear long term value creation.
Commenting on the transaction, Andrew Woodruff, Relationship Director in AIB’s UK Infra team said: “We are proud to support AGS with this significant refinancing, enabling continued investment in modern, sustainable airport infrastructure. AIB is fully committed to backing businesses that drive regional growth, connect communities and lead the way in responsible environmental stewardship.”
Phillip Staake, Chief Financial Officer at AGS Airports, added: “We are delighted to be working with AIB on this important refinancing package for the airport as we continue to invest in our facilities, capacity, and sustainable technology.”
