(AOF) – Vinci Airports, a subsidiary of Vinci Concessions, has finalized the acquisition of the majority of the capital (50.01%) of Edinburgh Airport for an amount of £1.27 billion. Vinci acts alongside Global Infrastructure Partners (GIP), managing the balance of 49.99%, under a partnership scheme comparable to that of London Gatwick Airport. Edinburgh Airport is the leading airport in Scotland and the 6th airport in the United Kingdom in terms of traffic, which “has returned to its pre-Covid level. Its growth potential is notably driven by the development of long-haul segments .
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Double penalty for the sector
The French Building Federation (FFB) recently warned of the collapse of the new housing market. Over the first eight months of 2022, sales in the new home market in the diffuse sector collapsed by 26.8% over one year. As for sales of new homes in the grouped sector, sales to individuals fell by 17.3% over one year in the first half of the year, while sales to institutions fell by 23%. The trend is the same for collective housing sales, down 9.8%.
These bad trends are accompanied by a decline in public investments, while PGE reimbursements begin. Due to a lack of visibility, local authorities prefer to put certain projects on hold. They also have to face a drop in their resources and a significant increase in energy and works costs. However, the largest investments are generally made during the third and fourth years of mandate of communities, that is to say in 2023 and 2024. This therefore represents a significant shortfall for the sector.