Peel Airports to sell Durham Tees Valley
PEEL Airports, the owner of Liverpool John Lennon Airport, is selling its majority stake in Durham Tees Valley Airport.
Business advisers PwC have been appointed to find a buyer for the 75% holding, and to then oversee the sale process.
In a statement Peel Airports – which is a partnership of the Manchester-based Peel Group and Vancouver Airport Services – said Durham Tees Valley Airport “no longer fits within the company’s strategic plans for its portfolio of airports”.
As well as the flagship Liverpool John Lennon Airport, Peel Airports’ assets include Robin Hood Airport Doncaster Sheffield, and City Airport & Heliport Manchester (formerly known as Barton Aerodrome).
Peel Airports said: “Durham Tees Valley Airport will continue to operate as normal during this process with passengers due to travel over the coming weeks and employees based at the airport unaffected by this decision.”
The remainder of Durham Tees Valley Airport’s shares are owned by six local authorities. The airport handles almost 700,000 passengers a year.
A former RAF station, it was converted into a civilian airport in 1966 with Peel becoming majority shareholder, in 2003.
It has invested significant sums in the infrastructure there, with an access road to the terminal, car park improvements and an enlargement of the terminal building.
