Balfour Beatty Acquires Blackpool International Airport
Balfour Beatty, the international engineering, construction, services and investment group, has announced that Regional and City Airports (RCA), its specialist airport investment and development group, has acquired 95% of Blackpool International Airport for £14 million in cash.
Blackpool International Airport is situated one mile south of Blackpool town centre and has excellent road and rail links which provide fast access to the North West. Its current key customers include Jet2.com, Ryanair and Manx2.com and it provides an established base to a range of other air carriers and related aeronautical businesses. The airport is forecast to handle about half a million passengers in 2008, flying 12 routes to the UK, Ireland, Isle of Man and mainland European destinations.
Commenting, Balfour Beatty Chief Executive, Ian Tyler, said:
"Blackpool International is a well-located airport with the potential to become a thriving international gateway to Lancashire and Cumbria. We will work together with the airlines and our local partners to help increase its penetration within this core catchment area and to play its part in attracting inbound visitors to the region. We believe that our approach will deliver significant, sustained growth in passenger traffic at the airport and will generate important economic benefits for it and for Blackpool. Our aim is to develop Blackpool to be the airport of choice for residents, businesses and visitors of Lancashire and Cumbria."
RCA acquired Exeter International Airport for £60 million in January 2007. Data from the Civil Aviation Authority (CAA) shows that Exeter is one of the fastest growing airports in the UK and the strongest growing airport in the South West, handling just over one million arriving and departing passengers in 2007.
Balfour Beatty Capital is an experienced investor in infrastructure, having raised over £7 billion of funding for its 30 privately-financed projects in which it has over £250 million of committed and invested equity.
Balfour Beatty also has a successful track record in airport infrastructure development. Its professional and technical services division has played a key role in the development programmes at Heathrow, Gatwick and the BAA Scottish Airports. Its construction and services subsidiaries have undertaken major airport projects at Heathrow, Gatwick, Stansted, Glasgow, Edinburgh, Hong Kong, Dubai and Miami.
For press enquiries contact Susan Kendrick - Communications Manager, Blackpool International Airport on: 01253 472560
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