Gloucestershire Airport Losses Soar as Council Fails to Sell It
Gloucestershire Airport’s Operating Losses Soar as Council Chiefs Say ‘Nobody to Blame’ for Sale Fiasco
Gloucestershire Airport, jointly owned by Cheltenham Borough Council and Gloucester City Council, is now costing taxpayers around £2.7 million per year, a significant increase from the previous £1.4 million annual operating loss. This revelation comes as the planned sale of the Staverton-based airport fell through earlier this month, leaving council leaders to address the growing financial burden.
Details
The sale of the airport to Horizon Aero Group, the preferred bidder, ultimately collapsed as the offer was “nowhere near the original offer price” of £25 million. Council leader Jeremy Hilton (LD, Kingsholm and Wotton) acknowledged that “nobody is to blame” for the failed sale, stating that the bidders and the councils’ officers and agents “worked really hard” to complete the transaction.
Hilton also provided more insight into the type of bidders interested in operating the airport, noting that most were consortiums. He emphasised that the councils have an “exceptionally good data room” should they decide to put the airport back up for sale in the future.
In the meantime, the councils’ immediate focus is on keeping the airport operational, as Hilton and other officials have visited the site to reassure staff and tenants. However, the councils are yet to decide on the future options for the airport, and they will be presented with these options in the coming week.
What You Need to Know
– Gloucestershire Airport’s annual operating loss has increased from £1.4 million to £2.7 million since it was put up for sale.
– The planned sale of the airport to Horizon Aero Group fell through earlier this month due to the offer being “nowhere near the original offer price” of £25 million.
– Council leaders say “nobody is to blame” for the failed sale, and they have been working to keep the airport operational in the meantime.
– The councils will be presented with options for the future of the airport in the coming week.