Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Insider UK
Insider UK
Neil Pooran & Peter A Walker

Interest in sale of Prestwick Airport but no ‘going offers’ on table

There is ongoing interest in a private sector purchase of Prestwick Airport, but no “going offers” are currently on the table, according to Wellbeing Economy Secretary Neil Gray.

However, a Conservative MSP said he has heard there has been an expression of interest in buying the site in South Ayrshire.

The airport was taken into public ownership in November 2013 after being purchased by the Scottish Government for £1.

Despite the government’s intention to return the airport to the private sector, an attempt to sell it last year fell through.

Gray gave evidence to the Economy and Fair Work Committee on Wednesday, stating that he has not received any “signal” of interest in buying the airport, but discussions with its management are ongoing.

He told MSPs: “It’s a good going concern, so I’d expect commercial interest to be forthcoming.”

Colin Cook, director of economic development at the Scottish Government, said: “We continually work with the board of Prestwick Airport and we do receive offers to purchase the asset, because it is recognised to be a strong asset both nationally and for the economy of Ayrshire.

“There are regularly approaches of various qualities and standards around Prestwick Airport.

“There’s nothing at the moment on the table that we would regard as a going offer, let us say.”

Conservative MSP Graham Simpson then said he is aware of an expression of interest which had been put to the board of the airport.

Simpson said: “I am concerned that you, Cabinet Secretary, are not aware of that; it would seem to me that you should be aware of that.”

Cook said the board of the airport would consider any offer before speaking to the Scottish Government.

There are currently no “realistic and sustainable” propositions, he added.

Prestwick Airport's most recent financial update showed operating profits of £1.9m.

The airport has seen growth year-on-year in both passenger numbers and cargo services, bringing the fifth consecutive year of improving financial results - and the third year in a row of making a profit.

For the 12 months to March 2022, revenue came in at £34.2m, while pre-tax profit was £1.2m.

Cargo volumes rose by 36% to 18,000 tonnes, while passenger numbers more than doubled to 118,000. Refuelling was up 89% to 36 million litres, with the value of fuel sold - at £20.8m - making up the bulk of the airport's revenue.

Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.