Balfour Beatty pays £14m for Blackpool airport

Balfour Beatty has paid £14m to acquire a 95% stake in Blackpool airport.

The seller was Mar Properties, a Northern Ireland-based property developer.

The minority shareholder, Blackpool Borough Council, is supportive of the change.

In January 2007 Balfour paid £60m for Exeter Airport.

Data from the Civil Aviation authority (CAA) shows that Exeter is one of the fastest-growing airports in the UK. It showed the strongest rate of growth of any airport in the South West.

Ian Tyler, Balfour chief executive, said: “Blackpool is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria. Our aim is to develop Blackpool to be the airport of choice for residents, business and visitors.”

Blackpool airport’s users include Jet2.com, Ryanair and Manx2.com.

While Balfour steadily builds a widening infrastructure portfolio in the UK, Tyler will not be amongst those bidding for Gatwick, when and if it is decided that BAA’s monopoly of all London’s airports be ended in the interest of greater quality of service.