Vantage Group's airport network served a record 82 million passengers in 2025, up from just over 80 million in 2024 [S1]. Twelve months after our last update, however, the picture is more contrasted: steady growth at LaGuardia and in Cyprus, a Montego Bay still recovering from Hurricane Melissa, a JFK Terminal 6 opening that has slipped through 2026, and three new mandates that take the group beyond airport equity.

Vantage remains a wholly owned platform of Investcorp Corsair Infrastructure Partners, formed when Investcorp acquired 50% of Corsair's infrastructure business in December 2023; George Casey continues as Chair & CEO [S2] [S3]. Its 2026 moves favour capital-light growth. On 8 January 2026 it acquired FSM Management Group and AvEnergy, which administer 12 jet-fuel and four de-icing consortiums at 16 Canadian airports [S4]. In July, Brown County unanimously appointed Vantage to manage Green Bay Austin Straubel International Airport under an initial five-year contract [S5], and Massport allowed a US$1bn+ Terminal C redevelopment at Boston Logan, proposed by JetBlue with Vantage as development partner, to move forward against a likely 30–35-year lease renewal [S6]. Vantage Futures, the venture arm launched in March 2025, made its first investment in AI operations start-up Opfyx, piloted at JFK Terminal 7 [S7].

LaGuardia Terminal B, where Vantage leads LaGuardia Gateway Partners alongside Meridiam (48%), handled 16.96 million passengers in 2025, up 1.4%, outperforming LaGuardia as a whole, which slipped 2.2% to 32.8 million [S1] [S8] [S9]. Jacmel Partners' May 2025 minority investment was structured inside Vantage's holding [S10].

At JFK, the US$4.2bn Terminal 6, where Vantage is lead developer and majority investor in JFK Millennium Partners, had not opened as of this update. The "early 2026" target has slipped, and the Port Authority still lists the first gates for 2026, with completion in 2028 [S11]. Commercial momentum is strong: Air India's July 2026 commitment brings the roster to 16 airlines [S12]. Terminals 6 & 7 together handled 4.5 million passengers in 2025 [S1]. The US$400mn+ Miami cargo hub with Airis still targets 2029; no financial close has been reported [S13].