Belfast International Airport has selected First Trust Bank to deliver its entire banking requirements for the next seven years including the refinancing of the airport’s £30.6 million loan.
The airport, which is one of the major economic drivers of Northern Ireland, opted for First Trust after inviting a number of banks to submit proposals.
Belfast International says the new arrangement will cut a substantial amount from its annual bank charges which will be reinvested in the business.
Belfast International Airport Managing Director, Graham Keddie, says the deal ‘is a ground-breaker’ that will mean significant benefits.
Mr Keddie said: “We’d been looking for a bank that was capable of dealing with a wide range of both straightforward and quite complex transactions. Shaving costs is an essential element of the business, and we invited expressions of interest in the first instance.
“We then subjected proposals and costings to rigorous and critical examination to make sure delivery would be achieved with the right level of expertise and track record in delivery. First Trust ticked all the boxes and we had no hesitation in selecting the bank as our new banking partner.”
Des Moore, Head of First Trust Bank in Northern Ireland, said: “The airport re-financing is one of the largest financial transactions in recent times, and we’re delighted to have won the business.
“The airport is a very significant employer in Northern Ireland with further growth expected in the years ahead. It also plays an important economic enabler role for the wider economy and, as the airport expands with new destinations and increased passenger throughput, First Trust Bank will be right alongside it to handle all its banking requirements. The business is varied and dynamic and our team is looking forward to supporting its ambitious growth plans.”