Liverpool City Council acquires stake in John Lennon Airport

After a report last autumn recommended that Liverpool City Council invest in John Lennon Airport (LJLA), the authority has finally signed an investment agreement with the facility.

With the number of passengers, airlines and destinations served at LJLA continuing to grow, the council and two joint venture companies have invested funds in the airport on the basis of making a commercial return.

With the authority having acquired a stake in LJLA in the form of shares, the airport plans to use the investment to enhance its facilities and maintain its status, along with the Liverpool City Region, as a key Northern Powerhouse gateway.

Commenting on the deal, the Mayor of Liverpool, Joe Anderson, said: “John Lennon Airport delivers a huge economic boost for the city region, employing thousands of people directly and indirectly.

“It is the gateway to the city from many destinations and it is absolutely vital that it continues to grow, create more jobs, boost economic growth and develop tourism.”

He continued: “This opportunity to play a more active part in its future expansion and success makes it a sound investment for the city council.”

Speaking further, Mayor Anderson said the deal forms part of the council’s ongoing Invest to Earn strategy, through which the authority will make strategic investments and plough the returns back into its services.

LJLA recently revealed that it served thousands more passengers last month than it did in February 2015, signalling a continuing growth trend for one of Merseyside’s largest employers.

The airport’s chairman, Robert Hough, commented: “We are delighted by the city council’s decision to invest in LJLA.

“This investment complements the council’s existing role in supporting the local and regional economy and allows the city to share in the financial success of the airport.”

Mr Hough added: “They will bring strong support both financially and strategically, with interests aligned to those of Peel and the wider City Region.”