AGS Airports (AGS) — which operates Glasgow, Aberdeen and Southampton airports — has completed a £745 million refinancing package, with support from Allied Irish Bank (AIB).

AIB joined the lender group for AGS via participation in a series of primary and secondary market transactions.

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, said: “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.”

Germany-based AviAlliance owns AGS. AviAlliance completed the acquisition of AGS Airports from Ferrovial and Macquarie in January 2025 for an enterprise value of £1.53 billion.

AviAlliance is a wholly owned subsidiary of Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors with $264.9 billion of net assets under management.

PSP Investments is a long-standing investor in UK infrastructure and holds a majority stake in Forth Ports.

In March 2025, New York-based Blackstone announced that its infrastructure strategy for individual investors agreed to acquire a minority stake of 22% in AGS Airports from AviAlliance for £235 million.