Ministers complete deal for Glasgow Prestwick Airport

The acquisition of Prestwick Aviation Holdings Limited and associated companies from previous owner Infratil was made for a nominal consideration of £1.

The deal was made on commercial terms, with the purchase price reflecting the ongoing investment requirements at the airport.

The Scottish Government now expects to engage a commercial partner to operate the airport on its behalf, in conjunction with existing staff.

Deputy First Minister Nicola Sturgeon said:

“With this deal concluded, we can now focus on the future of Glasgow Prestwick Airport and making it the success we know it can be.

“This acquisition secures continuity of service and we will now begin work, with our local partners, on developing our vision for the business so we can maximise its contribution to the local, regional and national economy.

“As we stressed at the start of this process, Glasgow Prestwick Airport remains fully open for business and existing staff remain employed at the airport.

“Senior advisory staff will be appointed on an interim basis to make recommendations on strategic business development, building on the commercial opportunities identified during the acquisition process, and on longer term management arrangements.

“I will make a statement to Parliament in due course to set out our plans in more detail.”

Marko Bogoievski, Chief Executive of Infratil said:

“Recognising the importance of the airport to the local communities and regional and national economy, Infratil’s preference has always been to secure a new owner with the capacity to support the future success of Glasgow Prestwick Airport.

“We believe that a Scottish Government acquisition achieves that objective and Infratil Limited is very pleased to have successfully completed the transaction.”

Published 23 Nov 2013