Exeter Airport sale rumoured
Balfour Beatty is looking for a buyer for its 60% stake in Exeter International Airport, according to Sky News.
The construction company led a buy-out of the airport from Devon County Council for £60 million in 2007, but according to news reports it has begun early talks with parties who might be interested in buying its share.
In August last year, Balfour wrote down the value of its holding in Exeter Airport from £12m to zero, saying that "whilst underlying trading has not deteriorated we believe that the timing for recovery of passenger numbers has gone further out, particularly in the light of the imposition of increased Air Passenger Duty rates".
The remaining stake is held by Galaxy, a specialist fund backed by French and Italian investors and the European Commission.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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