InfraBridge, the infrastructure arm of DigitalBridge Group, entered into a binding agreement to sell a 51% interest in a holding company that owns 100% of Leeds Bradford Airport and 49% of Newcastle International Airport to Spanish operator Aena. The transaction values the stake at approximately £270 million (about $340 million USD) and will see InfraBridge retain a 49% minority interest while continuing to manage the airports post‑sale.
The divestiture is part of DigitalBridge’s broader portfolio optimisation strategy, which has focused on concentrating capital and operational resources on its core digital‑infrastructure businesses such as data centres, fibre networks and cell‑tower assets. By shedding non‑core airport holdings, InfraBridge can free up capital that can be redeployed into high‑growth digital infrastructure projects, reinforcing the group’s long‑term growth trajectory.
Aena, which already holds a 51% stake in London Luton Airport, views the acquisition as a strategic expansion of its UK presence. The company’s CEO, Maurici Lucena, said the deal represents a “significant step” in the UK, where Aena aims to have overseas operations contribute 15% of its EBITDA by 2026. The purchase aligns with Aena’s selective growth strategy, leveraging its operational expertise to create value for both public and private shareholders.
Leeds Bradford Airport handled 4.3 million passengers in its fiscal year ending March 2025, while Newcastle International Airport served 5.2 million passengers in the year to December 2024, for a combined 9.5 million passengers last year. In FY 2025, Leeds Bradford generated £56.5 million in revenue with an EBITDA of £20.6 million (36.4% margin), and Newcastle posted £89.5 million in revenue and £50.2 million in EBITDA in 2024. These figures underscore the airports’ solid financial performance and growth potential, making them attractive assets for a focused operator like Aena.
DigitalBridge’s Q3 2025 earnings, released on October 30 2025, showed a mixed picture: fee revenue rose 22% to $93.5 million, but total revenue missed expectations by about $5 million. The company beat EPS estimates by $0.02, driven by disciplined cost management and a favourable mix of high‑margin digital‑infrastructure contracts. The divestiture aligns with this earnings narrative, as InfraBridge’s exit from legacy airport assets removes a lower‑margin, higher‑capital‑intensity line item, allowing the group to sharpen its focus on the more profitable digital‑infrastructure portfolio.
Justin Symonds, Managing Director and Head of Airports at InfraBridge, said the sale “reflects the strong performance and long‑term potential of both airports” and that Aena is a trusted partner with deep operational expertise. He added that the continued minority stake and management role will enable InfraBridge to support the airports’ growth while reallocating resources to its core digital‑infrastructure businesses.
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