Aviation giant AviAlliance has completed its takeover of Southampton Airport.

The firm, which is a major private airport investor and operator, acquired AGS Airports, the company running Southampton, from Ferrovial and Macquarie.

This deal, valued at £1.53 billion, includes Aberdeen and Glasgow airports as well. All the necessary regulatory approvals were granted for this acquisition.

As part of the change, Kam Jandu has been appointed as the new CEO of AGS Airports. This change is effective immediately.

Mr Jandu, who previously served as CEO of Budapest Airport, brings three decades of experience in the aviation and travel industry.

He succeeds Andy Cliffe, who is leaving the company by mutual consent. Mr Cliffe has agreed to assist Mr Jandu to ensure a smooth leadership transition.

Gerhard Schroeder, managing director of AviAlliance, said: “We are delighted to formally welcome AGS Airports into the AviAlliance family and look forward to developing a constructive and long-lasting partnership with all three airports.

"Aberdeen, Glasgow and Southampton airports are excellent assets with strong growth potential that will benefit significantly from the forward-thinking exchange of expertise in growing connectivity, expanding passenger numbers and delivering superior passenger experience from across our world-class airport portfolio.

"I also wish to thank Andy for his leadership of AGS Airports which has positioned the airports it operates for strong growth and look forward to working with Kam on the execution of our vision."

Andy Cliffe, outgoing CEO of AGS Airports, said: "It has been my pleasure to lead AGS Airports for the past years as we successfully transformed the business into the world-class airport operator it is today focused on delivering the enormous growth potential of the group. "

AviAlliance is a subsidiary of PSP Investments, a Canadian pension investor with stakes in various UK infrastructures.

This includes Forth Ports and Angel Trains, one of the UK’s largest port groups and the largest rolling stock company in the UK, respectively.

With the acquisition, AGS Airports will now be part of AviAlliance’s global airport network. This network already includes stakes in Athens, Düsseldorf, Hamburg, and San Juan airports.