Balfour Beatty agrees £14m Blackpool airport deal

May 7 2008 by Our Correspondent, Western Mail

CONSTRUCTION group Balfour Beatty has agreed to buy Blackpool International Airport for £14m.

The group’s Regional and City Airports arm is acquiring a 95% stake in the Lancashire seaside airport, which flies across the UK, Ireland and Isle of Man as well as mainland European destinations.

Balfour will add Blackpool airport to its existing portfolio, which already includes Exeter International Airport, bought for £60m last January.

Blackpool Borough Council will remain a minority shareholder in Blackpool’s airport following the deal, with a 5% stake.

It is expected to give its formal approval of the deal by Friday and yesterday said the sale was “absolutely great news” for Blackpool.

Peter Callow, leader of Blackpool Council, said: “The airport has developed rapidly in recent years and I am confident that Balfour Beatty will be able to take it to an even higher level.

“I know that they have very exciting plans for the future which will see expansion of both flights and facilities. Clearly they have the contacts and capacity to deliver these aspirations which should mean growth for the whole area and more jobs for local people.”

Balfour Beatty is buying Blackpool airport from MAR Properties, a Northern Ireland-based property developer, which bought it as part of a joint venture in 2004, before buying out its partner’s interest in 2006.

Airlines including low-cost carriers Ryanair and Jet2.com fly from Blackpool, which is based one mile south of the town centre.

The airport is forecast to handle about half a million passengers this year, but has capacity for two million passengers after a £2m refurbishment programme in February 2006 to update the terminal and car parking facilities.

Its first aviation use dates back to 1909. It was designated a civil airport in 1949.