Member Article

75% of Durham Tees airport to be sold off

Peel Airports have decided to sell their majority stake in Durham Tees Valley Airport, and are now looking for a buyer.

The decision was made after Peel Airports decided that Durham Tees Valley Airport no longer fitted into the company’s strategic plans for its airport portfolio.

PwC have been appointed to oversee their 75% majority stake. The remaining 25% is owned by 6 local authorities.

The airport will continue to operate as normal during this period, and passengers due to travel in the coming weeks, and employees at the Airport will be unaffected by the decision.

Rachel Anderson, NECC Head of Member Relations, said:

“Durham Tees Valley Airport is a genuine asset for the North East and of huge benefit for the large number of internationally focused businesses, currently in the process of establishing themselves in the area, all of whom are all going to require international business flights.

“We must view the sale as a potential opportunity to help Durham Tees Valley become a thriving airport with new routes into key overseas markets.

“NECC will do all it can to support the airport and help any new owner attract new airlines and routes.

This was posted in Bdaily's Members' News section by Ruth Mitchell .