In 2015, some 4.3 million passengers used the airport, which is an all time record.. This is surprising as some passengers are put off by the wind shear conditions, gusts of wind bouncing of nearby high rise buildings, which sometimes makes landing an interesting proposition. Also some operators have moved some schedules to other airports such as Stansted.
The purchasers are Alberta Investment Management Corporation, and investment funds the Ontario Teachers' Pension Plan and Wren House, part of the Kuwait Investment Authority.
They already operate and own a number of airports, including Belfast International Airport, Birmingham Airport, Bristol Airport, Brussels Airport and Copenhagen Airport.
They view London City Airport as: "a highly attractive infrastructure investment in the UK. The airport represents a unique opportunity to invest in an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service".
The new owners are promising to increase the number of routes flown from the airport and claims it would have a "positive economic impact for all of London and the local community, in particular".
London City Airport last changed hands in 2006 (Global Infrastructure Partners), when it carried just two million passengers a year, less than half than the numbers currently passing through its terminal.
JULIAN BRAY +44(0)1733 345581 Aviation Expert, Journalist & Broadcaster, Aviation Security & Airline Operations Expert, Travel / Maritime & Cruise Industry, NUJ, EQUITY, LIVE ISDN LINK, Broadcast ISDN COOBE ++44 (0)1733 345020 e&oe Old faithful NOKIA: 07944 217476 www.aviationcomment.com