Leeds Bradford Airport lands £160m funding package from NatWest in major boost to terminal expansion development

The funding from NatWest is a “significant milestone” towards the development of the £100m ‘LBA: REGEN’ project, which will see a new terminal be developed at the site.

The first phase is scheduled to be completed in time for the summer holidays, when guests will be welcomed into the newly extended terminal. Phase two of the project will see a full refurbishment of the existing terminal building.

Led by NatWest’s Debt Advisory team, the £160m transaction involved a “comprehensive, end-to-end execution process” that delivered a flexible and bespoke financing structure tailored to the airport’s evolving needs.

The package includes the refinancing of existing facilities and an upsized capital expenditure facility, designed to enable LBA to continue delivering on its long-term growth strategy while undergoing a transformational regeneration of its terminal.

LBA connects over 4.3 million passengers annually to more than 80 destinations across 24 European countries.

The terminal expansion and upgrade project will increase the airport’s passenger capacity up to around 6.8m passengers by 2030 and deliver an enhanced customer and commercial experience.

Alex Tong, Chief Financial Officer at Leeds Bradford Airport, said: “This refinancing transaction is a significant milestone for Leeds Bradford Airport, providing us with the financial stability and resources to continue our growth trajectory and enhance our infrastructure. We are grateful to NatWest for their support and expertise in structuring this transaction, which will undoubtedly benefit our business for years to come.”

The airport, which is owned by InfraBridge, has demonstrated strong post-pandemic recovery, with passenger traffic now at 113% of 2019 levels, making it the first northern UK airport to surpass pre-COVID performance.

Graeme Ferguson, head of airports at InfraBridge, said: “This milestone reflects the momentum at Leeds Bradford Airport and the confidence in its future potential.

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“We’re pleased to partner with NatWest to help advance the next phase of the airport’s development—creating opportunity for growth, investment, and greater connectivity for the region.”

Gazal Heda, head of debt advisory at NatWest, said: “We are delighted to have partnered with Leeds Bradford Airport as they navigate their ambitious growth plans by providing bespoke financial solutions and expertise.

“This transaction underscores NatWest’s commitment to supporting critical infrastructure projects that drive connectivity and economic growth across the UK.”