Spanish airport operator Aena is planning to expand its UK presence through significant stake acquisitions in Leeds Bradford Airport and Newcastle Airport. In a £270 million (approximately US$361 million) deal, Aena has signed an agreement to acquire a 51% stake in a holding company which owns 100% of Leeds Bradford Airport and 49% of Newcastle Airport.
Aena’s latest stake acquisition
Airport operator InfraBridge will sell the majority of its stake in Leeds Bradford Airport and Newcastle Airport to Aena. Once the deal goes through, the Spanish airport operator will own a majority stake in Leeds Bradford Airport, while InfraBridge will remain a key stakeholder.
As for Newcastle International Airport (NIAL), a 51% majority stake would be owned by the seven north east local authorities, known as LA7, while the remaining 49% will be owned by the new holding company, which in turn will then be owned 51% by Aena and 49% by Infrabridge.
The airports have been chosen owing to their strategic importance. Leeds Bradford and Newcastle airports combined recorded around 9.5 million passengers in 2024.
Leeds Airport benefits from its connectivity to motorways such as the M1 and M62. The airport recorded revenues of £56.5 million in FY2025 while its EBIDTA stood at £20.6 million.
Vincent Hodder, Chief Executive at Leeds Bradford Airport, said:
“This agreement is a positive development for Leeds Bradford Airport, for our employees and customers and for Yorkshire. We are excited about the future as we welcome Aena as our new majority shareholder. Aena is the world’s largest airport operator by passenger numbers and brings deep operational expertise and a strong track record of investing in and developing high-quality airport infrastructure around the world.”
Newcastle Airport, on the other hand, acts as a gateway to the Northeast of England and provides £1 billion GVA and 3,500 direct jobs. Nick Jones, Chief Executive Officer of Newcastle Airport, said:
“This agreement is significant news for the Airport’s future ambitions, recently outlined in our Masterplan 2040, and we are delighted that our performance, potential and ambitious growth plans, have been recognised by Aena.”
“We look forward to working closely with Aena Internacional, Infrabridge and our local authority partners as we continue to drive forward ambitious plans for the North East region.”
LBA and NIAL will remain “freehold” airports that continue to operate independently of each other.
Building upon existing partnership
The deal builds upon the existing partnership between Aena and Infrabridge, which also holds 49% of Luton Airport, where Aena is the airport’s majority stakeholder. Infrabridge is the Spanish operator’s trusted partner in the UK.
Aena’s Chairman and CEO, Maurici Lucena, described the transaction as “an important step in Aena’s commitment to markets with great potential, such as the United Kingdom, where we already have a long experience with 51% of Luton airport, in London”
“Our Strategic Plan establishes international growth in the geographies in which we are present as a lever to generate value for our shareholders. In addition, with this operation, we strengthen the alliance with InfraBridge as a long-term strategic partner in the United Kingdom.”
Justin Symonds, Managing Director and Head of Airports at InfraBridge, said:
“This agreement reflects the strong performance and long-term potential of both airports. Leeds Bradford and Newcastle are critical gateways for the communities they serve, and we are excited about their future growth prospects. Aena is a trusted partner with deep operational expertise, and we are very pleased to be strengthening our relationship as the airports transition into their next chapter. We look forward to collaborating on the continued development of both airports for the benefit of passengers, airlines and the wider regions.”
The transaction is subject to regulatory approvals and is expected to be completed in the second quarter of 2026.
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