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22
May
Leeds Bradford Airport handed £160 million terminal expansion boost
Leeds Bradford Airport has received a £160 million boost towards its terminal expansion and upgrade.
The airport plans to increase the number of annual passengers from 4.3 million to 6.8 million by 2030.
Passengers will benefit from the creation of additional aircraft stands, more seating, faster security, new shops and eateries, and a larger baggage reclaim area and immigration hall.
NatWest announced yesterday its debt advisory team had negotiated a £160 million financing package with the airport.
The bank said the package includes the refinancing of existing facilities and an upsized capital expenditure facility, which will enable the airport to achieve its growth strategy while the regeneration of its terminal takes place.
Farrans Construction has been appointed contractor for the first phase of the regeneration project, which will see the extension of the terminal.
Leeds Bradford flies to over 80 destinations.
Alex Tong, chief financial officer at the airport, said:
This refinancing transaction is a significant milestone for Leeds Bradford Airport, providing us with the financial stability and resources to continue our growth trajectory and enhance our infrastructure.
We are grateful to NatWest for their support and expertise in structuring this transaction, which will undoubtedly benefit our business for years to come.
The airport is owned by InfraBridge, an infrastructure investment manager.
Graeme Ferguson, head of airports at InfraBridge, said:
This milestone reflects the momentum at Leeds Bradford Airport and the confidence in its future potential.
Gazal Heda, head of debt advisory at NatWest, said:
This transaction underscores NatWest’s commitment to supporting critical infrastructure projects that drive connectivity and economic growth across the UK.
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