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Belfast City Airport

  • Sector Transport & logistics
  • Year invested 2016
  • Location UK
  • Status Current

Belfast City Airport (“BCA”) is strategically located just 5 minutes from Belfast city centre, providing essential connectivity between Northern Ireland and the rest of the UK. In 2023, BCA served 2.1 million passengers, underscoring its importance to the region.

Visit belfastcityairport.com

  • Belfast City Airport 3I Group
  • Belfast City Airport 3I Group (1)

Overview

Unlike many regional UK airports, BCA’s demand for air travel is more resilient to economic fluctuations. This is due to a higher proportion of business travellers, government officials and individuals visiting friends and family, rather than being primarily dependent on leisure travel.

BCA is serviced by six scheduled airlines - British Airways, BA CityFlyer, Aer Lingus Regional (operated by Emerald Airlines), EasyJet, KLM and Loganair - operating over 20 routes, including major destinations like London Heathrow, London Gatwick, London City, Edinburgh and Schiphol. While the majority of routes are domestic, BCA also offers flights to international destinations such as Palma, Alicante and Barcelona.

The airport’s aeronautical revenues, derived from charges to airlines, are not subject to economic regulation. BCA’s commercial revenue streams include car parking, retail royalties, food and beverage sales, car hire, rental income and advertising.

With over 1,000 people working on-site, only around 80 are directly employed by BCA. Many services, including security, facilities management, and air traffic control, are outsourced, while retail, food and beverage, and ground handling are managed by third parties. BCA retains in-house responsibility for fire services, maintenance, advertising, car parking and administration.

Why we invested

Belfast City Airport is a vital infrastructure asset for Northern Ireland, offering essential air links to the UK mainland. Air travel plays a crucial role in the region’s economy, facilitating business travel, tourism and personal travel for residents. With limited surface transport options to the UK mainland, the island's population has a high propensity to fly, reinforcing the importance of these connections.

BCA’s strong demand base is supported by its close proximity to Northern Ireland’s capital and business hub. The airport also offers a clear advantage in terms of speed and convenience over other airports on the island.

The airport’s strategic importance was further emphasised during the COVID-19 pandemic when it received UK Government funding to remain operational, ensuring continued connectivity between Northern Ireland and Great Britain.

Recent developments

BCA has increased its resilience by diversifying its airline portfolio and expanding its route network in response to the collapse of Flybe and the impacts of the COVID-19 pandemic. Passenger numbers have recovered and are expected to surpass 2019 levels in 2025.

Sustainability remains a key focus for BCA. The airport has nearly halved its operational carbon emissions since 2017, achieving Platinum Status in the Northern Ireland Environmental Benchmarking Survey for four consecutive years. Additionally, BCA has been purchasing 100% green electricity since 2013.

Significant investments have also been made in upgrading the terminal’s commercial offerings and installing next-generation security equipment, reinforcing BCA’s commitment to improving the overall customer experience.

Regulatory information
This transaction involved a recommendation of 3i Investments plc.