Private investment firm Ardian has increased its holding in Heathrow Airport to 32.6% following the completion of an additional 10% stake acquisition from Ferrovial SE, La Caisse (formerly CDPQ), and USS, strengthening its position as the airport’s largest shareholder.
The transaction marks Ardian’s second major investment in Heathrow within a year, following its acquisition of a 22.6% stake in December 2024. The firm says it will continue to support Heathrow’s management team as the airport plays a pivotal role in facilitating trade, business and passenger travel in line with the UK Government’s economic and net-zero ambitions.
Mathias Burghardt, Executive Vice President, CEO of Ardian France and Head of Infrastructure at Ardian, said the deal demonstrates confidence in Heathrow’s future and underscores Ardian’s long-term infrastructure strategy. Since we became the largest shareholder of Heathrow in December 2024, we have worked with our fellow shareholders, the management team and the UK authorities to ensure Heathrow provides the best service possible for passengers and airlines.
“As the airport continues to serve an increasing number of passengers and global trade, we look forward to working with all stakeholders to deliver sustainable growth for the airport, fostering economic benefits across the country.”
Heathrow has seen surging demand in 2025, recording all-time passenger highs for January, April, and May.
The deal adds to Ardian’s long-standing experience in European airport infrastructure. In the UK, Ardian held a 49% stake in London Luton Airport between 2013 and 2018, where it led a major redevelopment programme. In Italy, Ardian has been an indirect shareholder in Milan Linate, Milan Malpensa, Naples and Turin airports.
