Airport divestment is gaining global momentum as more than 200 European airports embrace private investment and concessions, with aviation expert Richard Aisuebeogun arguing that airport commercialisation is no longer a policy option but an operational necessity. He urged stakeholders to view concessions as a strategic tool for improving efficiency and competitiveness rather than simply transferring ownership.
Speaking at the 2026 Airport Business Summit in Lagos, where he presented a paper titled Airport Concession- The Inevitable, Aisuebeogun said 205 European airports now have private shareholders, representing 41 per cent of the continent’s airports, up from 22 per cent in 2010. He said the figures demonstrate how governments are increasingly turning to airport divestment and concession models to modernise infrastructure, improve competitiveness and attract long-term investment.
According to the aviation expert, Europe now has about 60 fully privately owned airports, more than 100 operating under mixed ownership through public-private partnerships and concessions, while just under 200 remain fully publicly owned Countries such as Cyprus, Hungary, Portugal, Slovenia and the United Kingdom have almost completely privatised their airport systems, while others continue to expand concession programmes.
He said the experience across Europe shows that airports can successfully transition from government-run facilities into commercially focused enterprises without compromising their strategic importance.
Airport divestment driven by global investment trends
Aisuebeogun explained that airports continue to attract investors because of sustained passenger growth, strong long-term revenue potential and limited competition. He noted that the significant capital required to build new airports, combined with planning restrictions, creates high barriers to market entry, making existing airports attractive investment assets.
He cited the Airports Council International (ACI) report, which showed that private investment in European airports rose dramatically between 2010 and 2016. During that period, the proportion of airports with private shareholders increased from 22 per cent to 41 per cent, reflecting growing confidence in concession and commercialisation models across the continent.
Describing airport concession as the equivalent of a long-term lease rather than an outright sale, Aisuebeogun said governments retain ownership while granting private operators responsibility for financing, operating and developing airport infrastructure. According to him, the model allows airports to function as commercial businesses while ensuring governments continue to exercise strategic oversight.
He said increased private participation has transformed airport operations across Europe by encouraging stronger competition for airline routes, improving service quality, enhancing operational performance and creating more sustainable approaches to financing infrastructure expansion. Airports, he added, have become leaner, more customer-focused and better positioned to respond to changing market demands.
To reinforce his argument, Aisuebeogun pointed to several international examples of successful airport divestment and concession arrangements. These include Bolivia’s 30-year concession covering three major airports, Argentina’s 30-year concession for 33 airports, Mexico’s concession programme involving 58 airports, Greece’s 40-year concession for 14 regional airports, and Brazil’s airport concessions, which attracted multi-million-dollar investments from international operators.
He identified increasing fiscal pressure on governments as one of the major reasons for pursuing airport concessions. According to him, many governments can no longer finance airport expansion alone and are turning to private capital to fund infrastructure upgrades while introducing more commercially driven management structures.
Aisuebeogun said airport divestment also enables operators to respond faster to changing aviation markets through streamlined decision-making, improved business practices and stronger investment planning. He stressed that modern airports require proactive management capable of adapting to evolving passenger expectations and airline requirements.
However, he acknowledged concerns surrounding concession arrangements. These include fears of short-term profit-driven management, reduced investment, higher airport charges, organisational disruption during transition and the need to maintain public accountability. He added that concerns over cross-subsidisation within multi-airport systems have also been raised.
Despite these reservations, Aisuebeogun described many of the concerns as theoretical rather than inevitable. He argued that carefully structured concession agreements provide governments with sufficient regulatory oversight while allowing private operators to introduce greater commercial discipline and operational innovation.
Concluding his presentation, Aisuebeogun said governments rarely relinquish complete control because airports remain strategic national assets and critical infrastructure. Instead, concession agreements are designed to preserve government influence while unlocking private investment and management expertise.
“The commercialisation process will also lead to an improvement of the operational performance because it results in an airport becoming more customer and market focused,” he said.
He added that concession arrangements encourage airports to develop new business strategies, maximise revenue opportunities, reduce operational risks and strengthen long-term sustainability. For governments seeking to modernise aviation infrastructure, he maintained, airport divestment is no longer simply a financing option but an increasingly proven strategy for building more competitive airports.
