The Flemish government is making a major investment in Brussels Airport, acquiring a 39% stake through its investment arm PMV. This €2.77 billion move makes Flanders the airport’s largest
shareholder, up from a previous holding of just 1%.
The significant increase comes from the purchase of shares previously owned by the Canadian pension fund OTPP, which had put its 30% stake up for sale.
“We want to be in the cockpit”
Flemish minister-president Matthias Diependaele emphasized the importance of having a strong say in the airport’s future. “We want to be in the cockpit when it comes to the future of our airport,” he said. “If we are not involved, someone else will make the decisions for us.”
While the €2.77 billion price tag is substantial, Diependaele expressed confidence that the investment would become profitable. “From 2028 onwards, the dividends will exceed the interest payments. This is an investment that will pay for itself,” he noted.
Federal government stake and economic importance
The federal government, which holds a 25% stake in Brussels Airport, had also considered increasing its share. However, with this move, Flanders now surpasses the federal government in ownership.
Brussels Airport is a critical economic driver for the region, supporting around 60,000 direct and indirect jobs. It also plays a key role in exports, air freight, and international connectivity, contributing over €5.4 billion in added value to the Belgian economy, according to a joint study by the University of Antwerp and UCLouvain. Photo by Jérôme, Wikimedia commons.