Rigby Group buys airport from MAG
Rigby Group is accelerating down the growth runway after it bought Bournemouth Airport from Manchester Airports Group.
The deal, for an undisclosed sum, sees Bournemouth become the fourth regional airport in the group, joining Coventry, Norwich and Exeter.
It will increase turnover at Rigby Group’s airports business, Regional and City Airports (RCA), by £10m to nearly £50m.
Chairman and founder of the Stratford-upon-Avon based group, Sir Peter Rigby said: “The acquisition of Bournemouth Airport represents an important landmark in our strategy to create a robust and credible group of regional airport assets and services across the UK.
“Not only does it expand our catchment to include the major regions of South England, but also focuses operations on a core market poorly serviced by the major aviation players.”
RCA also has contracts to operate Solent (formerly Daedalus Airfield), City of Derry and Blackpool Airports. The addition of Bournemouth Airport will add 200 people to RCA’s existing workforce of 600 people.
Bournemouth Airport is a base for Ryanair and TUI and currently offers flights to 22 European destinations, with 700,000 passengers using the airport in 2016. It recently benefitted from a £45m investment to improve the passenger experience at the Airport.
Day-to-day management of the adjacent 200-acre Aviation Business Park will be handled by Rigby Real Estate – the parent group’s specialist property management division.
Rigby Group’s interests include technology, airports, hotels, aviation, real estate and finance. It generates three-quarters of the group’s £2bn annual revenues from its technology business, SCC EMEA Group.
Charlie Cornish, chief executive of MAG, said it will “continue to focus on improving Manchester, London Stansted and East Midlands airports”.
He added: “Bournemouth Airport and its people have been part of our company for a long time.
“RCA has a detailed integration plan in place to ensure a seamless transition of ownership and operations at Bournemouth which will maintain business as usual for passengers and customers.”
