AGS Airports has completed a £745 million refinancing package, strengthening its long-term financial position and supporting continued investment across its UK airport portfolio. The refinancing, finalised in December 2025, sees AIB join the banking syndicate following a series of primary and secondary market transactions.
The operator of Aberdeen, Glasgow and Southampton airports collectively handles more than 11 million passengers a year and plays a key role in regional connectivity across Scotland and southern England.
According to AGS Airports, the new financing provides a more resilient capital structure and underpins major investment programmes already under way at all three airports. Planned works include terminal upgrades, airfield and runway improvements, and a range of energy-efficiency initiatives designed to improve passenger experience while reducing environmental impact.
The refinancing also supports AGS Airports’ sustainability strategy, including its commitment to achieve net-zero direct emissions by 2035. Investment will focus on more efficient terminal infrastructure, upgraded airfields and the deployment of energy-reducing technologies, aligning with broader industry efforts to decarbonise airport operations.
AIB said its participation reflects a long-standing commitment to the aviation and infrastructure sectors in the UK and Ireland, particularly assets that deliver strong regional economic benefits. AGS Airports is estimated to support more than 30,000 jobs and generate over £2 billion in gross value added annually for the UK economy.
Andrew Woodruff, Relationship Director in AIB’s UK Infrastructure team, said the bank was pleased to support the airport group’s future plans. “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,” he said.
Phillip Staake, Chief Financial Officer at AGS Airports, welcomed AIB’s involvement in the transaction. “We are delighted to be working with AIB on this important refinancing package as we continue to invest in our facilities, capacity and sustainable technology,” he said.
AGS Airports said the refinancing positions the group to meet rising passenger demand while continuing to modernise its infrastructure and advance its environmental objectives over the coming decade.